Leasing 1. When ABC Bhd entered into a 4 year lease agreement on 30 April 2019 the fair price of the asset was RM380,000. The lease terms involved ABC Bhd making a payment on 30 April 2019 of RM 130,000 followed by 3 annual payments on 30 April of RM101,000 the asset has an estimated useful life of 5 years and the rate implicit in the lease is 10%. Compute the amount will be charged to the statement of Profit or loss in respect of this asset in the year to 30 November 2019. 2. Apple enters into the lease of a piece of machinery for RM1,000 per annum for 5 years. Apple is granted a rent-free period in the first year and elects to apply the low- value exemption in IFRS 16 Leases. Calculate the annual lease rental expense to be recognized through profit or loss