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Nath Salons leased equipment from Li Company on January 1,2024 , in an operating lease. The present value of the lease payments discounted at 7%

Nath Salons leased equipment from Li Company on January 1,2024 , in an operating lease. The present value of the lease payments discounted at 7% was $94,700. Ten annual lease payments of $12,600 are due at each January 1 beginning January 1, 2024. The amortization of the right-of-use asset for the reporting year ending December 31 , 2024, would be: Multiple Choice $6,853. $5,747. $6,629. $12,600

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