Question: JXM operates in J-land where the currency is the J$. The exchange rate of the J$ to the US dollar is 1:1. TXM wishes to apply the recognition exemptions of IFRS 16: Leases where possible, and enters into five leases as the lessee. Which three of the following scenarios should qualify for the recognition exemptions of IFRS 16 Leases? Solution A. An eight-month lease of a machine with an underlying value of T$100,000 for eight months. B. An 18-month lease of a warehouse with an underlying value of T$3,000,000. C. A two-year lease of second hand equipment, worth T$4,000 currently but costing T$12,000 new. D. An 11-month lease of furniture with an underlying value of T$3,000. E. A five-year lease of a computer with an underlying value of T$2,000.