A finance lease for 6 years has an annual payment in arrears of R24,000. The fair value

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A finance lease for 6 years has an annual payment in arrears of R24,000. The fair value of the lease at inception was R106,000. Using the sum of digits method, the liability for the lease at the end of year 2 is: Select one:

a. R3 221

b. R3 700

c. R3 551

d. R3 461

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Vector Mechanics for Engineers Statics and Dynamics

ISBN: 978-0073212227

8th Edition

Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell

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Posted Date: Sep 06, 2022 04:05 AM

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A finance lease for 6 years has an annual payment in arrears of R24,000. The fair value

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Total lease interest payment 24000 X 6106000 R38000 Using sum of digits method nn... View the full answer

Vector Mechanics for Engineers Statics and Dynamics

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