In: Accounting
on jan1 2020 we leased equipment from finning tractor.we follow ifrs.the lease term is 4years, with payment of $69000due at the begining of each year. Included in the payment is a maintenance fee of$2800.The interest rate on the lease is 9%. there is also a bargain purchase option of $60,000 at the end of the lease.the estimated economic life of the equipment is 10years.calculate the pv of the minimum lease payments.
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