Question: On June 3 0 , 2 0 2 4 Georgia Atlantic, Incorporated leased warehouse equipment from Leasing CorporationThe lease agreement calls for Georgia to make
On June Georgia Atlantic, Incorporated leased warehouse equipment from Leasing CorporationThe lease agreement calls for Georgia to make semiannual lease payments of $ over a fouryear lease term, payable each June and December with the first payment on June GeorgiaAtlantic's incremental borrowing rate is the same rate uses to calculate lease payment amounts Amortization is recorded on a straightline basis at the end of each fiscal year The fair value of the equipment is $ Note: Use tables, Excel, or a financial calculator PV of EVA of PVA of EVAD of and PVAD of Required: the present value of the lease payments on June that Georgia Atlantic uses to record the rightof use asset and lease What amount related to the lease would Georgia Atlantic report in its balance sheet at December ignore taxes? What amount related to the lease would Georgia Atlantic report in its income statement for the year ended December @gnore taxes Note: For all requirements enter your answers in whole dollars and not in millions Round your final answers to the nearest whole dollar Answer is complete but not entirely correct. deg Present value Pretax amount for Pretax amount rightof use asset Pretax amount for interest expente amount for amortization expense
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