In the long-term liabilities section of its balance sheet at December 31, Year 3, Mene...
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Accounting
In the long-term liabilities section of its balance sheet at December 31, Year 3, Mene Co. reported a capital lease obligation of 75,000, net of current portion of $1,364. Payments of $9,000 were made on Mene's incremental borrowing rate on the date of the lease was 11%, and the leassor's implicit rate, which was known to Mene, was 10%. In its December 31, Year 4, balance sheet, what amount should Mene report as capital lease obligation, net of current portion?
A. 66,000
B. 73,500
C. 73,636
D. 74,250
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