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On 1 January 20X0, Cooper hires a computer on an operating lease. The lease is for 3 years and under the terms of the contract an initial payment of $120 is due followed by 3 annual payments in arrears of $550 per annum. What is the hire charge expense for the year ended 31 December 20X0? A. $120 B. $550 C. $670 D. $590 |