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A finance lease for 6 years has an annual payment in arrears of R24,000. The...

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Accounting

A finance lease for 6 years has an annual payment in arrears of R24,000. The fair value of the lease at inception was R106,000. Using the sum of digits method, the liability for the lease at the end of year 2 is: Select one: a. R3 221 b. R3 700 c. R3 551 d. R3 461

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