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On Jure 30,2024, Georga-Arlantic, Incorporated leased warchouse equipment from iC Leasing Corporation. The lease agreement...

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Accounting

On Jure 30,2024, Georga-Arlantic, Incorporated leased warchouse equipment from iC Leasing Corporation. The lease agreement calls for Georgla-Atlamtic to make semisannual lease payments of $463.866 over a four-yedr lease term faiso the incrementai borrowing rete is thr, the same rate iC used ta calculate lesse peyment amounts. IC purchased the equipment fram Bunders, Inserparated at a coat of $3.1 milion.
Required:
2. Whet smount reised to the lease would K report in its inceme susement far the year ended December 3t.2024 fonore taxes)?
Note: For all requirements, enter your answers in whole dollers and not in millons. fround the intermedlace catculabion and Niral answers to the nearest whole dollar.
2. Pretax emoind at interest revmous.
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