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I just have a quick question that I just can’t seem to find the answer for in the book. When trying to determine the lease liability at the beginning of the lease, how do you know whether to use the present value of the bargain purchase option or the present value of the guaranteed residual value? The pass key on F5-14 says Bargain purchase OR Residual. I just don’t see where it says anywhere how to choose which one. Please and thank you!!
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