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XYZ Company leased equipment to West Corporation under a lease agreement that qualifies as a finance lease to West but not as a result of
XYZ Company leased equipment to West Corporation under a lease agreement that qualifies as a finance lease to West but not as a result of a bargain purchase option or a title transfer. The present value of the lease payment is $600,000. The expected economic life of the asset is 7 years. The lease term is six years. Using the straight-line method, the balance in the right-of-use asset after two years will be.
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