Question: 1. A Co. leased the computer hardware equipment from B Co. on January 1, 20X1. B Co. purchased the equipment from C Co. at

1. A Co. leased the computer hardware equipment from B Co. on January 1, 20X1. B Co. purchased the equipment from C Co. at a cost of $19,091. Related Information: Lease term 2 annual rental payments

1. A Co. leased the computer hardware equipment from B Co. on January 1, 20X1. B Co. purchased the equipment from C Co. at a cost of $19,091. Related Information: Lease term 2 annual rental payments Economic life of asset Fair value of asset Implicit interest rate and lessee's incremental borrowing rate 2 years $10,000 on January 1, 20X1 (ie., beginning of the lease) and $10,000 on December 31, 20X1 2 years $19,091 10% (1) Determine the value of the right-of-use asset that should be recorded on January 1, 20X1 (Round to the nearest whole dollar amounts).

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