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Durney Co. recorded a right-of-use asset of $800,000 in a ten-year finance lease. The interest...

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Question

Accounting

Durney Co. recorded a right-of-use asset of $800,000 in a ten-year finance lease. The interest rate charged by the lessor was 10%. The balance in the right-of-use asset after two years will be:

A)

$968,000
B)

$880,000
C)

$648,000
D)

$640,000

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