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Brief Exercise 15-19 (Algo) Nonlease payments [LO15-2, 15-7) On January 1, 2021, Jasperse Corporation leased equipment under a finance lease designed to earn the
Brief Exercise 15-19 (Algo) Nonlease payments [LO15-2, 15-7) On January 1, 2021, Jasperse Corporation leased equipment under a finance lease designed to earn the lessor a 10% rate of return for providing long-term financing. The lease agreement specified ten annual payments of $115,000 beginning January 1, and each December 31 thereafter through 2029. A 10-year service agreement was scheduled to provide maintenance of the equipment as required for a fee of $4,000 per year. Insurance premiums of $3,000 annually are related to the equipment. Both amounts were to be paid by the lessor and lease payments reflect both expenditures. (FV of $1, PV of $1. FVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) At what amount will Jasperse record a right-of-use asset? (Round your answers to the nearest whole number.) PV factors based on Table or Calculator function: Lease Payment Right-of-use asset n=
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