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What amount will smith record as a lease liability

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Question - Smith leased a machine and appropriately accounted for the lease as a long-term finance lease. Smith's fifteen annual lease payments will be of $750,000. Smith's first lease payment is due upon the inception of the lease. Smith used an interest rate of 5% relating to this lease. What amount will Smith record as a lease liability at the inception of the lease?

Reference no: EM132772507

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