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? $\begin{array}{|r|l|l|c|}
\hline {\text { Date }} & \begin{array}{l}
\text { Lease } \
\text { payment }
\end{array} & \begin{array}{l}
\text { Interest } \
\text { expense }
\end{array} & \begin{array}{l}
\text { Present value of } \
\text { lease liability }
\end{array} \
\hline \text { 1-Jul-11 } & & & 17039 \
\hline 30 \text {-Jun-12 } & 3500 & 1704 & ? \
\hline
\end{array}$

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The Answer of 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? $\begin{array}{|r|l|l|c|}
\hline {\text { Date }} & \begin{array}{l}
\text { Lease } \
\text { payment }
\end{array} & \begin{array}{l}
\text { Interest } \
\text { expense }
\end{array} & \begin{array}{l}
\text { Present value of } \
\text { lease liability }
\end{array} \
\hline \text { 1-Jul-11 } & & & 17039 \
\hline 30 \text {-Jun-12 } & 3500 & 1704 & ? \
\hline
\end{array}$

The Following Is an Extract from a Lease Payment Schedule