A lease agreement that qualifies as a finance lease calls for annual lease payments of $ 2
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Question:
A lease agreement that qualifies as a finance lease calls for annual lease payments of $ over a six year lease term also the asset's useful life with the first payment on January the begining of the lease. The interest rate is
Required:
b If the lesse's fiscal year is the calender year, what wiould be the amount of the lease liability that the lessee would report in its baalnce sheet at the end of the year? What would be the interest payable? Round your answers to the nearest whole dollar.
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