Vitelotte entered into a 5-year lease agreement on 1 October 2020 with payments of 10,975 due each year, starting on 30 September 2021. The interest rate charged by the lessor is 7% and the present value of the lease payments is 45,000.

Calculate the non-current liability to present in the Statement of financial position at 30 September 2021.

a.

39,777

b.

25,432

c.

37,175

d.

28,802

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