Mango enters into a 5-year lease of an item of plant on 1 January 2021. The annual rentals are $11.5 million, with the first instalment paid on 31 December 2021. The present value of the lease on 01/01/2021 is $50 million and the implicit interest rate is 5% per annum.

Calculate the liability to be recognized in the statement of financial position at 31 December 2022.

9. Mango enters into a 5-year lease of an item of plant on 1 January 2021. The annual rentals are $11.5 million, with the first instalment paid on 31 December 2021. The present value of the lease on 01/01/2021 is $50 million and the implicit interest rate is 5% per annum. Calculate the liability to be recognized in the statement of financial position at 31 December 2022. * (8 Points) O $31,550,000 $41,000,000 $40,425,000 $30,371,250