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pebworth ltd acquired an item of plant under a lease on 1 april 2019. the...

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Accounting

pebworth ltd acquired an item of plant under a lease on 1 april 2019. the present value of the future lease payments and the carrying amount of the right of use asset was N$15 462 000 and 3 rental payments of N$6 million per annum are due to be paid in arrears on 31 march each year. the useful life of the plant is deemed to be 5 years. there is no option to by the asset at the end of the lease term. the interest rate implicit in the lease is 8% per annum. what is the total charge to profit or loss in respect of this lease on 31 march 2020?

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