Swift Corporation is leasing a machine from Gray, Inc. Swift's incremental borrowing rate is 13%. The prime rate of interest is currently 7%. Gray's implicit rate in the lease is 9%; Swift knows this rate. What interest rate should the lessee use to discount the lease payments under IFRS?  Explain briefly

Answer rating: 100% (QA)

Under IFRS International Financial Reporting Standards the inter... View the full answer