Question: (Questions 15-18) Technoid Inc. manufactures computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost of the computers was

(Questions 15-18) Technoid Inc. manufactures computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost of the computers was $12 million. This noncancelable lease had the following terms: . Lease payments: $2,466,754 semiannually; first payment at January 1, 2018; remaining payments at June 30 and December 31 each year through June 30, 2022. Lease term: five years (10 semiannual payments). No residual value; no purchase option. Economic life of equipment: five years. Implicit interest rate and lessee's incremental borrowing rate: 10%. Fair value of the computers at January 1, 2018: $20 million. . . 18. What amount related to the lease would Technoid report in its 2018 income statement? $1,653,324. O $876,662. O $1,673,820. O $9,673,820
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