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Hurt corporation acquired a capital lease that is carried

Question - Hurt Corporation acquired a capital lease that is carried on its books at a present value of $100,000 (discounted at 12%). Its' annual lease payment is $15,000. What is the amount of interest expense from this lease?

First Year $ Second Year $

A) 12,000 10,200

B) 12,000 11,640

C) 12,000 12,350

D) 15,000 15,000

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Accounting Basics: Hurt corporation acquired a capital lease that is carried

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Accounting Basics: Hurt corporation acquired a capital lease that is carried

Reference No:- TGS02590340

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