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please show all work Noah Corp. entered into a nine-year finance lease on a warehouse on December 31, 2018. Lease payments of $27,253, which includes
please show all work
Noah Corp. entered into a nine-year finance lease on a warehouse on December 31, 2018. Lease payments of $27,253, which includes maintenance services of $1,750, are due annually, beginning on December 31, 2019, and every December 31. Noah's incremental borrowing rate is 12%. The rounded present value of an ordinary annuity for nine years at 12% is 5.33. What amount should Noah report as recorded lease liability at December 31, 2018?
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