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What is the rent expense for the year ended year

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Problem 1: The lease agreement states the required payments of 60,000 at the start of year 1, 80,000 on year 2, and 100,000 on year 3. The commencement date is the start of year 1 and the leased asset is considered low value. What is the rent expense for the year ended year 1?

Reference no: EM132937433

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