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On June 30. 2018, Georgia-Atlantic, Inc, leased a warehouse facility from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments

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On June 30. 2018, Georgia-Atlantic, Inc, leased a warehouse facility from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $464,149 over a four-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018 Georgia-Atlantic's incremental borrowing rate is 8%, the same rate IC uses to calculate se payment amounts. Depreciation is recorded on a straight-ine basis at the end of each fiscal year. The fair value of the warehouse is S3.2. (EVofSpy of $1. EVA of $1, PVA of $1. provided.) leas EVAD of $1 and PVAD of $1 (Use appropriate factorts) from the tables Required: Determine the present value of the lease payments at June 30, 2018 that Georgia-Atlantic uses to record lease liability 2. What pretax amounts related to the lease would Georgia-Atlantic report in its balance sheet at December 31 3. What pretax amounts related to the lease would Georgia-Atlantic rep the right-of-use asset and ort in its income statement for the year ended December 31, erences2018 (For all requirements, enter your answers in whole dollars and not i n millions. Round your final answer to nearest whole dollar) Present value 2 Pretax amount for liabity S 3,249,995 2 433.13 2 843.746 111434 Pretax amount for amortization expenseS 517683 Pretax amount for right-of-use asset Pretax amount for interest expense

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