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This noncancelable lease had the following terms: Lease payments: $2,897796 semiannually, first payment at January 1, 2021; remaining payments at June 30 and December
This noncancelable lease had the following terms: Lease payments: $2,897796 semiannually, first payment at January 1, 2021; remaining payments at June 30 and December 31 each year through June 30, 2025. Lease term: 5 years (10 semiannual payments). No residual value; no purchase option. Economic life of equipment: 5 years. Implicit interest rate and lessee's incremental borrowing rate: 8% semiannually. Fair value of the computers at January 1, 2021: $21 million. What is the outstanding balance of the lease liability in Lone Star's June 30, 2021, balance sheet? (Round your answer to the nearest whole dollar.) Multiple Choice $16,652,584 $16.652.593 $21,000,000
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