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Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January 1 , 2 0 2 4 . The manufacturing cost of
Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January The manufacturing cost of the computers was $ million.
This noncancelable lease had the following terms:
Lease payments: $ semiannually; first payment on January ; remaining payments on June and December each year through June
Lease term: years semiannual payments
No residual value; no purchase option.
Economic life of equipment: years.
Implicit interest rate and lessee's incremental borrowing rate: semiannually.
Fair value of the computers on January : $ million.
What is the outstanding balance of the lease liability in Lone Star's balance sheet on June
Note: Round your answer to the nearest whole dollar.
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