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Arena corp. leased equipment from bolton corp. and correctly classified the lease as a finance lease. the present value of the annual lease payments at lease inception was $1,000,000. the present value of the maintenance and service obligations to be paid by bolton was $50,000, and the fair value of the equipment at lease inception was $900,000. what amount should arena report as the finance lease obligation at the lease's inception?
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Arena corp. leased equipment from bolton corp. and correctly classified the lease as a finance lease...
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