Tshivhale Ltd (lessor) leases an asset with a cash price of R115 000 (VAT INCLUSIVE) on 1 January 2022 for a period of 4 years. The lease instalments are payable annually in arrears on 31 December. Other information in respect of the asset: Fair value: R115 000 Economic life: 4 years Unguaranteed residual value: R5 000 Annual instalment: R40 111.26 Initial direct costs of the lessor: R1 000 The interest implicit in the lease will be 16%. Select one: O True False