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Able Equipment recorded a right-of-use asset of $1,180,000 in a ten-year finance lease. The interest...

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Accounting

Able Equipment recorded a right-of-use asset of $1,180,000 in a ten-year finance lease. The interest rate charged by the lessor was 10%. Calculate the balance in the right-of-use asset account after two years. Multiple Choice $1,298,000 $1,062,000 $955,800 $944,000

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