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On December 2 9 , 2 0 1 1 , Beta Corps signed a 7 - year lease for an airplane to transport its professional
On December Beta Corps signed a year lease for an airplane to transport its professional sports team around the country. The airplane's fair value was $ Beta made the first annual lease payment of $ on December Beta's incremental borrowing rate was and the interest rate implicit in the lease, which was known by Beta, was The following are the rounded present value factors for an annuity due:
table for years, for years,
What amount should Beta report as a lease liability in its December balance sheet?
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