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Lease Liability Calculation : A company enters into a lease agreement with annual payments of $20,000 for 5 years. The interest rate implicit in the

Lease Liability Calculation: A company enters into a lease agreement with annual payments of $20,000 for 5 years. The interest rate implicit in the lease is 6%. Calculate the present value of the lease payments to determine the lease liability to be recorded on the balance sheet.

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