A Co. recorded a right-of-use asset of $400,000 in a 10-year operating lease. Payments of...
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A Co. recorded a right-of-use asset of $400,000 in a 10-year operating lease. Payments of $65,100 are made annually at the end of each year. The interest rate charged by the lessor was 10%. The balance in the right-of-use asset after the first year will be:
a) 360,000
b) 374,900
c) 376,900
d) 400,000
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