A company leases a motor vehicle. The present value of minimum lease payments is $27, 355 and the rate implicit in the lease is 10% . The terms of the lease require three annual instalments to be paid of $10,000 each at the start of each year . At the end of the first year of the lease what amount will be shown for the lease liability in the company's statement of financial position under the headings of non-current liabilities and current liabilities?
A.
Current liabilities Non-current liabilities A $9,091 $10,000
B.
Current liabilities Non-current liabilities B $10,000 $10,900
C.
Current liabilities Non-current liabilities C $10,900 $10,000
D.
Current liabilities Non-current liabilities D $10,000 $9,091