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5 On 1st January 2019. Sumo LC made an agreement to lease an item of equipment from Durbon LLC for years. The lease requires five

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5 On 1st January 2019. Sumo LC made an agreement to lease an item of equipment from Durbon LLC for years. The lease requires five annual payments in advance of OMR 250,000 each starting from 1st fanuary 2019. The useful life of the equipment is 5 years with no scrap value. Ata discounting rate of 8 % The present value of total lease payments is 960,000. What is the appropriate interest charged to the income statement and depreciation charged on the base quipment found off to nearest zero) Interest charged OMR 75,200 and depreciation charged on lease equipment OMR 138000 Interest charged OMR 56,800 and depreciation charged on lease equipment OMR 192,000 Interest charges OMR 26,600 depreciation OMR 48,000 None of them

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