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Find how much is the lease liability on december

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Reference no: EM132945615

Problem 1: An entity entered into a seven-year lease on December 31, 2020. The annual lease payment is 1,530,000 starting on December 31, 2020. The implicit rate is 9%. How much is the lease liability on December 31, 2021?

a) 7,700,418
b) 9,148,866
c) 8,393,455
d) 5,951,166

Reference no: EM132945615

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