The Following Is an Extract from a Lease Payment Schedule

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

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

Correct Answer:

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