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Daisy Dental leased equipment on January 1 under an operating lease agreement. The present value of the lease payments discounted at 10 % was $160,000.

Daisy Dental leased equipment on January 1 under an operating lease agreement. The present value of the lease payments discounted at 10 % was $160,000. Ten annual lease payments of $24,000 are due each January 1, beginning at inception of the lease. The amortization of the right-of- use asset for Year 1 would be: A. $24,000 B. $13,600 C.$10,400 D.$16,000

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