Accounting for Long-Term Nonoperating Liabifities Curnoms inc, prowides the followng disclosure in the notes to its 2020 financiat statements Guarantees and Commitments penalties under these contracts. volativy. and odier perfarmance-related puarantes were $102 milion at December 31,2020 . a. How would the following aems trom she disclosiue above be whom on the francial stakemens? of eachyear houme a discount race of 4kn ) 4 inilion a. How would the following items from the disclosure above be shown on the financial statements? b. Compute the present value of the future payments related to purchase commitments of $81 million. (Note of each year. Assume a discount rate of 4%.) million