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Acme Auto Repair entered into an agreement to lease equipment from Cromley Motor Products on July 1, 2022, The lease calls for five equal annual

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Acme Auto Repair entered into an agreement to lease equipment from Cromley Motor Products on July 1, 2022, The lease calls for five equal annual payments of $470,000, beginning July 1,2023 . Similar transactions have carried an 118 interest rate. At what amount would Acme would record the right-of-use asset? (FV of \$1. PV of \$1. EVA of \$1. PVA of S1. FVAD of S1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $2.350.000 50. 51737,073 $1.928352

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