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Question Four (a) GTA entered into a second agreement to lease a further item of plant, also with a fair value of R1,700,000, on 1

Question Four (a) GTA entered into a second agreement to lease a further item of plant, also with a fair value of R1,700,000, on 1 January 20X2. This lease requires the annual payment in advance of R400,000 for six years and the machine has a useful economic life of six years. The interest implicit in the lease is 16.32% Required Calculate the carrying value of the noncurrent portion of the lease liability at 31 December 20X2. Give your answer to the nearest R000

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