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What is the amount of the lease obligation on december

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problem 1: On January 1, 2014, Mark Company leased equipment by signing a five-year lease that required five payments of $85,000 due on December 31 of each year. The equipment remains the property of the lessor at the end of the lease, and Mark does not guarantee any residual value. Using a rate of 11%, Mark capitalized the lease on January 1, 2014, in the amount of $314,152. What is the amount of the lease obligation on December?

31, 2015?

A. $263.709

B. $207,717

C. $279.595

D. $225,350

 

Reference no: EM132467860

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