-On January 1, 2016, Denver Company leased equipment under a 5-year lease with payments of $5,000 on each December 31 of the lease term. The present value of the lease payments at a discount rate of 12% is $18,024. If the lease is considered a capital lease, what is the book value of the lease obligation on January 1, 2017?

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-On January 1, 2016, Denver Company leased equipment under a 5-year lease with payments of $5,000 on each December 31 of the lease term. The present value of the lease payments at a discount rate of 12% is $18,024. If the lease is considered a capital lease, what is the book value of the lease obligation on January 1, 2017?

-On January 1, 2016, Denver Company Leased Equipment Under a 5-Year