LAS 2 554 - Google Docs s Help All changes saved in Drive - 11 - BIUAE IE E- 151 19. On January 1, 2021, Gemini Corporation leased equipment under a finance lease designed to earn the lessor a 9% rate of return for providing long-term financing. The lease agreement specified ten annual payments of $249,000 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 $23,000 per year. Insurance premiums f $16,000 annually are related to the equipment. Both amounts were to be paid by the lessor and the lease payments reflect both expenditures. At what amount will Gemini record a right-of-use asset? (Round your answer to the nearest whole dollar amount.) $1,420,035 $1,259,144 $1,741,816 $1,580,926 20. On January 1, 2021, Gemini Corporation leased equipment under a finance lease designed to earn the lessor a 9% rate of return for providing long-term financing. The lease agreement specified ten annual payments of $249,000 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 $23,000 per year. Insurance premiums of $16,000 annually are related to the equipment. Both amounts were to be paid by the lessor and the lease payments reflect both expenditures. At what amount will Gemini record a right-of-use asset? (Round your answer to the nearest whole dollar amount.) $1,420,035 $1,259,144