I need the answer as soon as possible into a 6-year finence lease...
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Accounting
I need the answer as soon as possible
into a 6-year finence lease of non- company enters specialized equipment with Lessor Company on January 1, 2020. Lessee has agreed to pay $ 44800 annually beginning immediately on January 4, 2020. The lessor estimates the desidved Volver of the oquipment to be $8000 ot lease endo but the lessee has not guaronteed the residual volue. The economic Life of the lassestis 7 years. The lessee's incrementel borrowing Rote is 7olo and the lessoris implicit Rote is note readily determinab by the lessee Company, what is the velle of the lease liability on January 1 2026, assuming that the lease is properly Classified ces a finance lease
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