Question: Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January 1 , 2024. The manufacturing cost of the computers was $19

Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January 1 , 2024. The manufacturing cost of the computers was $19 million. This noncancelable lease had the following terms: - Lease payments: $2,726,627 semiannually; first payment on January 1, 2024; remaining payments on June 30 and December 31 each year through June 30, 2028. - Lease term: 5 years (10 semiannual payments). - No residual value; no purchase option. - Economic life of equipment: 5 years. - Implicit interest rate and lessee's incremental borrowing rate: 4% semiannually. - Fair value of the computers on January 1, 2024: $23 million. What is the outstanding balance of the lease liability in Lone Star's balance sheet on June 30, 2024? Note: Round your answer to the nearest whole dollar. Multiple Choice $18,357,681 $18,657,690 $23,000,000 None of these answer choices is correct
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