Question 12 lease: JK company has the following balances on the 2008 B/S:

Question 12lease:JK company has the following balances on the 2008 B/S: current assets=70,000, long-term assets=250,000, current liability=40,000, long-term debt=130,000, and stockholders equity=150,000. The company has an operating lease contract. It promises to pay a lessor $10,000 annually for the next three years. The company s average borrowing rate (discount rate) is 10%. If the lease is recorded as a capital lease, what will be the long-term asset total?Answer