ENTS Tips Question 4 1 points Sav On 1 April 2020, Lessee Company entered into a lease contract to lease a manufacturing plant. The terms of the lease are as follows: Lease term: 40 years Annual repayments: R 376 599- Initial direct costs incurred: R 60 000 Guaranteed residual value: R nil Present value of the lease liability: R 3 600 000 Future cost (at future value) to restore the plant to its original condition at the end of the lease term: R 297 368.64 Applicable discount rate: 10.25% Calculate the right-of-use asset as at the commencement of the lease. R 3 666 000 OR 3 600 000 OR 3 628 681 R 3 660 000