Superbyte Corporation sells photographic equipment Superbyte leases equipment to Laguna Madre Company on January 1 of the current year. The cost to manufacture the equipment was $12 million. The lease agreement between SuperByte and Laguna Madre had the follow terms 1. The lease is noncancellable 2. The lease has no residual value or bargain purchase option 3. The lease term is 8 years payments are made semiannually 4. Depreciation is recorded each December 31 using the straight-line approach 5. The economic life of the equipment is 8 years 6. The lessee's incremental borrowing rate and the implicit interest rate are both 8% annually 7. The lease payments are $1.493,617 semiannually The first paytient is due at the inception of the lease subsequent payments are made every July 1 and January 8. The fair value of the equipment at the inception of the lease is $16.500.000 What is the net book value of the lease ability in Laguna Madre's balance sheet on June 30 of the current year? O A $15.777 260 OB. 510.455 319 OC. $11.970536 OD. $15.006 383 Mega Corporation leases machinery on January 1, 2016. The lease is for a period of 7 years, which is the useful life of the machinery. The Implicit rate of interest is 5% and the Obligation under Capital Lease is recorded at $42.530. The lease requires annual payments of $7,000, with the first payment due at the inception of the lease. How much interest expense should be accrued on December 31, 20 O A. 50 OB. 57.000 OC. 51.777 OD. $2.127