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IBPS RRB CA Officer Scale II Practice Questions - IBPS RRB Chartered Accountant Officer Scale II (IBPS, India) Exam

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A company enters into a 5-year lease of an office building. The lease payments are ₹10,00,000 annually, payable at the end of each year. The lessee's incremental borrowing rate is 10% per annum. (Present value factor of an ordinary annuity for 5 years at 10% is 3.7908). Under Ind AS 116, what is the initial lease liability to be recognized by the company?
Correct Answer:
₹37,90,800

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