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Red Co. recorded a right-of-use asset of $200,000 in a 10-year finance lease. Payments of...

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Accounting

Red Co. recorded a right-of-use asset of $200,000 in a 10-year finance lease. Payments of $32,549 are made annually at the end of each year. The interest rate charged by the lessor and known by Red was 10%. The balance in the lease payable after two years will be: (Round your final answer to the nearest whole dollar.)

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