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Crane Ltd. entered into a lease on June 1,2023. The lease term is six years...

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Accounting

Crane Ltd. entered into a lease on June 1,2023. The lease term is six years and requires annual rental payments of $33,300 at the
beginning of each year. Crane's incremental borrowing rate is 5% and the rate implicit in the lease is 9%.
Question 2 of 7
Your answer is correct.
Calculate the capitalized amount of the right-of-use asset if Crane follows IFRS. (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to 2 decimal places, e.g.5,275.75.)
Leased asset $
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Attempts: 1 of 3 used
Question Part Score
(b)
Calculate the capitalized amount of the leased asset if Crane follows ASPE. (Round factor values to 5 decimal places, e.g.1.25124 and
final answer to 2 decimal places, e.g.5,275.75.)
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