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What will be the balance reported as a liability

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Question - On January 1, 2018, Packard Corporation leased equipment to Hewlitt Company. The lease t: on January 1, 2018. Remaining payments are made on December 31 each year, beginning Corporation $3,053,400. The present value of the lease payments is $3,293,400. The lease is the interest rate for this lease is 11%, what will be the balance reported as a liability by Hew Hewlitt Company.

Reference no: EM133183828

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