The lease contract for a computer workstation requires quarterly payments of $2100 at the beginning...
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The lease contract for a computer workstation requires quarterly payments of $2100 at the beginning of every three-month period for five years. The lessee would otherwise have to pay an interest rate of 10% compounded quarterly to borrow funds to purchase the workstation. a. What amount will the lessee initially report in its financial statements as the long-term lease liability? (Do not round intermediate calculations and round your final answer to 2 decimal places.) The initial lease liability will be $ b. What will the liability be at the end of the fourth year? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Lease liability $
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The lease contract for a computer workstation requires quarterly payments of $2100 at the beginning of every three-month period for five years. The lessee would otherwise have to pay an interest rate of 10% compounded quarterly to borrow funds to purchase the workstation. a. What amount will the lessee initially report in its financial statements as the long-term lease liability? (Do not round intermediate calculations and round your final answer to 2 decimal places.) The initial lease liability will be $ b. What will the liability be at the end of the fourth year? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Lease liability $ 