unaffected) in order to be able to sell these items. i) On 1 January 2019 Makoo Ltd entered into an agreement to lease a number of machines. The lease was for a four-year period, which was the estimated useful economic life of the machines. Makoo Ltd is required to repair and insure the plant, which has no estimated residual value at the end of the lease. The lease rentals were set at GH/10 million every six months, payable in advance. The lease rentals figure included GH/20 million in respect of this lease. The rate of interest implicit in this lease was 5\% per six-monthly period and the present value of the future lease payments was estimated at GH\&60 million at 1 January 2019