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Calculate the current liability figure to be shown

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Question - CS acquired a machine via a lease agreement on 1 January 2017. The lease was for a five-year term with rentals of $20,000 per year payable in arrears. The present value of the lease rentals was $80,000 and the annual interest rate implicit in the lease was 7.93%. Calculate the current liability figure to be shown in CS's statement of financial position at 31 December 2018.

Reference no: EM133188036

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