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AC313please help Technoid Inc. sells computer systems. Technoid leases computers...

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Accounting

AC313
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Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost of the computers was $21 million. This noncancelable lease had the following terms: Lease payments: $3,326,577 semiannually; first payment at January 1, 2018; remaining payments at June 30 and December 31 each year through June 30, 2022. Lease term: 5 years (10 semi-annual payments). No residual value; no purchase option. Economic life of equipment: 5 years. Implicit interest rate and lessee's incremental borrowing rate: 7 % semiannually Fair value of the computers at January 1, 2018: $25 million. . What is the interest revenue that Technoid would report for this lease in its 2018 income statement? (Round your answer to the nearest dollar.) Multiple Choice $0. Economic life of equipment: 5 years. Implicit interest rate and lessee's incremental borrowing rate: 7 % semiannually. Fair value of the computers at January 1, 2018: $25 million. What is the interest revenue that Technoid would report for this lease in its 2018 income statement? (Round your answer to the nearest dollar.) Multiple Choice $0. None of these answer choices is correct $2,907,619. $1,487144

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