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Red Co. recorded a right-of-use asset of $214,000 in a 10-year operating lease. Payments of $29,076 are made annually at the end of each

Red Co. recorded a right-of-use asset of $214,000 in a 10-year operating lease. Payments of $29,076 are made annually at the end of each year. The interest rate charged by the lessor was 6%. Calculate Red's balance in the right-of-use asset after the first year. Multiple Choice $94.502. $201.160. $214,000. $197.764

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