The Following Is an Extract from a Lease Payment Schedule

The following is an extract from a lease payment schedule for Lipton Pty Plc.What is the present value of the lease liability at 30 June 2012? $\begin{array}{|r|l|l|c|}\hline {\text { Date }} & \begin{array}{l}\text { Lease } \\\text { payment }\end{array} & \begin{array}{l}\text { Interest } \\\text { expense }\end{array} & \begin{array}{l}\text { Present value of } \\\text { lease liability }\end{array} \\\hline \text { 1-Jul-11 } & & & 17039 \\\hline 30 \text {-Jun-12 } & 3500 & 1704 & ? \\\hline\end{array}$

A) €13 539
B) €15 335
C) €15 243
D) €11 835

Correct Answer:

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