On December 1, 20X8, XYZ leased a computer with a fair value of $3,000 for three years. Payments are due at the end of each year. The lessor computes their annual rental charge using an implicit rate of 15%, which is known to XYZ. XYZ elects to use the IFRS 16 exemption and not capitalize the right-of-use asset. 

What would be XYZ's rent expense in 20X9?

Answer rating: 100% (QA)

Determine the annual rental charge The annual rental charge is 15 of ... View the full answer