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The amount to be recorded as the cost of an asset under a finance lease is equal to the 1- carrying value of the asset

The amount to be recorded as the cost of an asset under a finance lease is equal to the

1- carrying value of the asset on the lessors book

2- present value of the lease payments or the fair value of the asset, whichever is lower

3- present value of the lease payments

4- present value of the lease payments plus the present value of any ungaranteed residual value

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