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please answer asap for a good rating! Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2024. The manufacturing
please answer asap for a good rating!
Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2024. The manufacturing cost of the computers was $19 million. This noncancelable lease had the following terms: - Lease payments: $3,287,947 semiannually; first payment on January 1, 2024; remaining payments on June 30 and December 31 each year through June 30, 2028. - Lease term: 5 years (10 semiannual payments). - No residual value; no purchase option. - Economic life of equipment: 5 years. - Implicit interest rate and lessee's incremental borrowing rate: 9% semiannually. - Fair value of the computers on January 1, 2024: \$23 million. What is the outstanding balance of the lease llability in Lone Star's balance sheet on June 30,2024 ? Note: Round your answer to the nearest whole dollar. Multiple Choice $17,698,200 Step by Step Solution
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