5(c) SHEENA Ltd acquired machinery on lease from BHARAT Ltd on the following terms:
Lease Term 5 Years,Fair Value of Machinery (useful life 15 years) ₹ 30 lakhs,Annual Lease Rental payable at ₹ 5 lakhs, ₹ 4
lakhs, ₹ 3 lakhs, ₹ 2 lakhs, ₹ 1 lakh at the end of each year ,
Implicit Rate of Return (IRR) 15%
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