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What the value of the lease payable reported

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Question - A company enters into a finance lease agreement to acquire the use of an asset for three years with lease payments of €9,000,000 starting next year. The leased asset has a fair market value of €49,000,000 and the present value of the lease payments is €57,250,188. Based on this information, what the value of the lease payable reported on the company's balance sheet?

Reference no: EM132691881

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