Question 37 TOPIC 5 - LEASES Not yet answered On 1 July 2019, Black Ltd entered into an arrangement to lease a machine from White Ltd. The terms of the lease agreement are as follows: Marked out of 4.00 Lease term (in years) 4 years P Flag question Annual lease payments (commencing 30 June 2020) $134878 $90,000 Expected residual value at the end of the lease term Residual value guaranteed by Black Ltd (%) Interest rate implicit in the lease (%) 80 8 Calculate the correct lease liability amount that will be recognised in Black Ltd's financial statements at 30 June 2020. PLEASE ENTER YOUR ANSWER IN WHOLE NUMBERS WITH NO COMMAS OR DOLLAR SIGNS (EG $1,000,000 SHOULD BE SHOWN AS 1000000)