17,533,256 is not the right answer Technoid Inc. sells...
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17,533,256 is not the right answer
Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2021. The manufacturing cost of the computers wes $12 milion. This noncancelable lease had the following terms: Lease payments: $2,466,754 semiannually, frist payment at lanuary 1,2022 ; remaing payments at June 30 and December 31 each year through June 30,2025. 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. 5% semizmally. Fair value of the computers at January 1,2021:520 million. What is the outstanding balance of the lease liability in Lone Star's jure 32, 2021, baeace
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