Business, 27.04.2021 15:30, hollicious1384

On January 1, 2021 Rastell Co signed a long term finance lease for an office building. The terms of the lease required Rastall to pay 16,000 annually beginning December 31, 2021 and continuing each year for 16 years. On January 1, 2021 the present value of the lease payments is 151, 146 discounted at the 7% interest rate implicit in the lease In Rastall’s December 31, 2021, balance sheet, the lease payable should be: a. $109,200
b. $112,679
c. $221,000
d. $95,679

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On January 1, 2021 Rastell Co signed a long term finance lease for an office building. The terms of...