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Complete this question by entering your answers in the tabs below. On January 1,2024 , Stone leased an office building. Terms of the lease require
Complete this question by entering your answers in the tabs below. On January 1,2024 , Stone leased an office building. Terms of the lease require Stone to make 20 annual lease payments of $122,000 beginning on January 1,2024 . A 12% interest rate is implicit in the lease agreement. At what amount should Stone record the lease liability on January 1, 2024, before any lease payments are made? Note: Round your final answers to nearest whole dollar amount. Complete this question by entering your answers in the tabs below. On January 1,2024 , Stone leased an office building. Terms of the lease require Stone to make 20 annual lease payments of $122,000 beginning on January 1,2024 . A 12% interest rate is implicit in the lease agreement. At what amount should Stone record the lease liability on January 1, 2024, before any lease payments are made? Note: Round your final answers to nearest whole dollar amount
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