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Calculate the carrying value of the non-current portion

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Lease agreement Question - GTA entered into a second agreement to lease a further item of plant, also with a fair value of R 1 700 000 on 1 January 20x2. This lease requires the annual payment in advance of R400 000 for six years and the machine has a useful economic life of six years. The interest implicit in the lease is 16.32%

Required - Calculate the carrying value of the non-current portion of the lease liability at 31 December 20x2.

Reference no: EM132662975

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