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3. Mango enters into a 5 year lease of an item of plant on 1 January 2019. The annual rentals are RM1.15 million, with the first installment paid on 31 December 2019. The present value of minimum lease payments are RM50 Million and the interest rate implicit in the lease is 5% per annum. Calculate the liability to be recognized in the statement of financial position at 31 December 2020