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On 1 January 2019 Nacho Ltd hired a machine under a 4 year lease. a deposit of $ 700 000 was payable on the commencement of the lease on 1 January 2019. a further 3 installment of $ 700 000 are payable annually in advance. the present value of the future lease payment is $1 871 000. the rate of implicit in the lease is 6%.
Question 1: What is the amount that will appear under the non current liabilities in respect of this lease in the statement of financial position as at 31 December 2019
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