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yyong
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A company purchased an a asset on 1.1.x1 for $100,000, with a life of 5 years. On 1.1.x3 they sell the asset to a lessor company for the fair value of $70,000 and lease it back for 2 years with annual lease payment of $20,000 and guranteed residual value of $15,000. The lease has a rate of return of 10%. The amount to be recognised as right of use asset is?
May I know how to calculate the right of use asset for this question?
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