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At the beginning of 2020. ABC enters a finance lease requiring five annual payments of $10,000 each beginning on the first day of the lease.

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At the beginning of 2020. ABC enters a finance lease requiring five annual payments of $10,000 each beginning on the first day of the lease. Assuming the lease interest rate is 6%, the amount of interest expense recognized by ABC in 2020 is closest to: $2,527 $2.4000 $2,079

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