Cullumber Services Inc. accounts for the lease of a truck. The lease includes a residual...
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Cullumber Services Inc. accounts for the lease of a truck. The lease includes a residual value guarantee at the end of the lease term of $ Cullumber estimates that the likelihood that the residual value will be $ has a certainty. Cullumber feels that there is a chance that the residual value will be $ and a chance that it will be $
Calculate the probabilityweighted value of the residual guarantee that needs to be included in the measurement of the lease payments liability recorded by Cullumber when the lease is signed.
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