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On January 1 of current year, Stone signed a 3-year lease agreement that obligated the company to make lease payment of $1,000 at the end

On January 1 of current year, Stone signed a 3-year lease agreement that obligated the company to make lease payment of $1,000 at the end of every month of the lease term. The company's cost of borrowing is 9%.


Requirement:

1) Calculate the amount of expenses to be recognized for Year 1 based on IFRS 16. 

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