Calloway Corporation recorded a right-of-use asset of $120,000 in a 10-year finance lease. Payments of...
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Calloway Corporation recorded a right-of-use asset of $120,000 in a 10-year finance lease. Payments of $19,529 are made annually at the end of each year. The interest rate charged by the lessor and known by Calloway was 10%. Calculate the balance in Calloway's lease payable after two years. (Round your final answer to the nearest whole dollar.) Multiple Choice $139,563. $96,000. $145,200. $104,189.
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