16.What would be the balance of the lease obligation on January 1, 2017, for financial reporting purposes after the lease payment? (Round answers to the nearest dollar)  $0 $166,779 $227,447 $233,379

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Q: 12

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Leasing

Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.