On 1st January 20X2, George pc leased a car under a four-year lease with four annual lease payments of 25,000 made on 31st Dec of each year. The lease has an implicit annual interest rate of 12%.

What amount will appear under current liabilities in respect of this lease in the statement of financial position of George pc as at 31st December 20X2?

Select one:

a) 19,930

b)42,251

c)20,408

d)25,000

e) 17, 795