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Business, 26.07.2019 01:40 willasiacochran

Randall co leased a machine on january 1, 2018, for a three-year period ending december 31, 2020. the lease agreement specified annual payments of $31,100 beginning with the first payment at the beginning of the lease, and each december 31 through 2019. the company had the option to purchase the machine on december 30, 2020, for $19,260 when its fair value was expected to be $35,760, a sufficient difference that exercise seems reasonably certain. the machine's estimated useful life was six years with no salvage value. federated was aware that the lessor’s implicit rate of return was 10%n/i pv of $1 pv, ordinary annuity pv, annuity due3 periods, 10% 0.75131 2.48685 2.73554what is the amount randall should record as a right-of-use asset and lease liability for this finance lease?

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Randall co leased a machine on january 1, 2018, for a three-year period ending december 31, 2020. th...
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