Question: Help Save & Exit Su Karla Salons leased equipment from Smith Co. on July 1, 2021, in a finance lease. The present value of the

Help Save & Exit Su Karla Salons leased equipment from Smith Co. on July 1, 2021, in a finance lease. The present value of the lease payments discounted at 11% was $39,200. Ten annual lease payments of $6,000 are due each year beginning July 1, 2021. Smith Co. had constructed the equipment recently for S35,000, and its retall for vlu w $39,200. What amount of interest revenue from the lease should Smith Co. report in its December 31, 2021, income statement? Multiple Choice o . o o o

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