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please help On February 1, 2019, Asra Oll Company, uses successful cost approach, obtained a shooting right coupled with an option to lease on 10,000
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On February 1, 2019, Asra Oll Company, uses successful cost approach, obtained a shooting right coupled with an option to lease on 10,000 acres at a total cost of $12,000. Based on the result , Asra decided to acquire the loase and paid lease bonus of $120,000 on June 1, 2019. Asta also paid $10,000 delinquent taxes (recoverable) on the property Asta decides not to dell on the lease during the first year Wishing to retain the loase. Asta paid a delay rental of $12,000 on June 2, 2020. Asra had still not started driling by the end of the second year as such paid a delay rental of $15,000 on June 2, 2021. How much is the total cash payment paid for the amount of delay rental? 4.312.000 8. $17,000 C.515,000 0.527,000Step by Step Solution
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