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Red Co. recorded a right-of-use asset of $204,000 in a 10-year operating lease. Payments of $30,402 are made annually at the end of each year.
Red Co. recorded a right-of-use asset of $204,000 in a 10-year operating lease. Payments of $30,402 are made annually at the end of each year. The interest rate charged by the lessor was 8%. Calculate Red's balance in the right-of-use asset after the first year. Multiple Choice $204,000. $109,507. $187,680. $189,918
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