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The Harris Company is the lessee on a four-year lease with the following payments at the end of each year Year 1 Year 21 Year

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The Harris Company is the lessee on a four-year lease with the following payments at the end of each year Year 1 Year 21 Year 3: Year 41 $16,000 $21,000 $26,000 $31.000 An appropriate discount rate is 7 percentage, yielding a present value of $78,169. 0-1. If the lease is an operating lease, what will be the initial value of the right-of-use asset? initial value of the right of use asset 0-2. If the lease is an operating lease, what will be the initial value of the lease liability? Initial value of the lease Babilty 0-3. Ir the lease is an operating lease. what will be the lease expense shown on the income statement at the end of year 13 Lease expense 9-4. If the lease is an operating lease, what will be the interest expense shown on the income statement at the end of year 1? (leave no cells blank - be certain to enter "0" wherever required.) Interest expense a-5. If the lease is an operating lease, what will be the amortization expense shown on the income statement at the end of year 1? (Leave no cells blank - be certain to enter "O" wherever required.) Amortization expense b-1. If the lease is a finance lease, what will be the initial value of the right-of-use asset? Initial value of the right-of-use asset b-2. If the lease is a finance lease, what will be the initial value of the lease liability? Initial value of the lease liability b-3. If the lease is a finance lease, what will be the lease expense shown on the income statement at the end of year 17 (Leave no cells binnk-be certain to enter"0" wherever required) b-4. If the lease is a finance lease. what will be the interest expense shown on the income statement at the end of year 1? (Round your answer to the nearest dollar amount.) b-5. If the lease is a finance lease, what will be the amortization expense shown on the income statement at the end of year 17 (Round your answer to the nearest dollar amount.) Amortization expense

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