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Determine the amount rou asset will be initially measured

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Problem 1: For the following lease, determine the amount the ROU asset will be initially measured at.

Annual payment (due at end of year) - $23,104

Lease term 5 - Incremental borrowing rate- 10%

Implicit rate (not readily determinable by lessee) -8%

Unguaranteed residual value- NA

Guaranteed residual value- 20,000

Reference no: EM132973874

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