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Question 32 Whiterun Ltd leases a boat to Riverwood Ltd. The right to use asset recorded by Riverwood Ltd is valued at $61 507. The

Question 32

Whiterun Ltd leases a boat to Riverwood Ltd. The right to use asset recorded by Riverwood Ltd is valued at $61 507. The lease payment is $20,000 for three years. Lease payments are to be made annually and in advance. Riverwood Ltd guarantees the $5 000 residual value of the boat. What is the amount of Riverwood Ltd's lease liability on the commencement day of the lease?

a)$61507 b)$66507 c)$46507 d) $41507

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