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What adam total finance lease liability is

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Reference no: EM132959229

Problem 1: On December 31, 20X9, Adam Co. leased a machine under a finance lease for a period of ten years, contracting to pay $50,000 on signing the lease and $50,000 annually on December 31 of the next nine years. The present value at December 31, 20X9, of the ten lease payments over the lease term discounted at 10% was $338,000. At December 31, 20X10, Adam's total finance lease liability is

A. $303,980

B. $266,800

C. $259,200

D. $243,000

Reference no: EM132959229

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