Moving to another question will save this response Question 11 On January 1, 2020, Will Corp, enters into an agreement with Gobinda Rentals Inc. to lease a machine from them. Both corporations adhers to ASH The towing a The term of the non-cancellable lease is three years with no renewal option. Payments of $271.622 are due on December 31 of The fair value of the machine on January 1, 2020, is 5 700,000. The machine has a remaining economic site of 10 years, with no termination of the lease. T 2 3 Will Corp, depreciates all its machinery on a straight-line basis. 4 Will Corp.'s incremental borrowing rate is 10% Will Corp. does not have knowledge of the 8% implicit rate used by Gobinda as The machine ravens to the If Gobinda Rental Inc. records this lease as a finance lease, what amount would be recorded an Lease Receivable at the inception of the lease? 01.$ 271,622 025 675,483 03. $700,000 045814,866 MacBook Pro Question 11 1. On January 1, 2020, Will Corp. enters into an agreement with Gobinda Rentals Inc. to lease a machi The term of the non-cancellable lease is three years with no renewal option. Payments of $ 27 The fair value of the machine on January 1, 2020, is $ 700,000. The machine has a remaining termination of the lease. 2. 3. Will Corp. depreciates all its machinery on a straight-line basis. 4. Will Corp.'s incremental borrowing rate is 10%. Will Corp. does not have knowledge of the 8% If Gobinda Rental Inc. records this lease as a finance lease, what amount would be recorded as Le 1.$271,622 2. $675,483 03. $700,000 4.$ 814,866 Question 11 of 21 1 points Save Answer from them. Both corporations adhere to ASPE. The following data relate to the agreement: 22 are due on December 31 of each year. momic life of 10 years, with no residual value. The machine reverts to the lessor upon the cit rate used by Gobinda. eceivable at the inception of the lease