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On October 1,2024, Sonoma Company leased equipment from Napa Incorporated in lease payable in five...

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Accounting

On October 1,2024, Sonoma Company leased equipment from Napa Incorporated in lease payable in five equal annual payments of $330,000, beginning October 1,2025. Similar transactions have carried an 12% interest rate. The right-of-use asset would be recorded at: Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Multiple Choice
$0.
$1,189,577.
$1,332,326.
$1,650,000.
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