Parent Ltd leased a showroom space at its Melbourne warehouse to Sub Ltd for a period of five years from 1 July 2020, with an option for a further five years. The annual rental payment is $120,000. The implicit interest rate is the agreement is 4.25% p.a. Concept Designs is unsure whether they will exercise the option period. The first payment occurred on 30 June 2021.

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Parent has 100% acquisition of Sub