Elliott Brothers enters into a lease agreement with Central Leasing for a piece of equipment. The terms of the 5-year lease state that payments of $24,500 will be made annually on January 1, commencing with the date that the lease begins. The lease contains a provision that Elliott Brothers may purchase the equipment at the end of the lease period for $16,000, which is well below the expected fair value at the end of the lease. As such, it is expected that Elliott Brothers wil exercise this option. The implicitrate in the lease is 9% If this lease is treated as a finance lease for Eliott Brothers at what value will the right-of-sease be recorded? OA. $114,272 O B. $95 296 OC. $103,873 OD. $10,399 On January 1, 2019, Wynn Manufacturing leased a floor of a building for use in its North American operations from Easymoney Bank The 9-year, noncancellable lease requires annual lease payments of $10,000, beginning January 1, 2019, and at each January 1 thereafter through 2027 The lease agreement does not transfer ownership nor does it contain a purchase option. The floor of the building has a fair value of $85,000 and an estimated remaining life of 10 years. Easymoney Bank's implicit rate of 9% is known to Wynn. At what amount is the lease liability recorded at lease commencement? O A. $90,000 OB. 565,348 O c. $74.177 OD. $69.952