USA Where can I find the borrowing rate to calculate the ROU asset for a lease printer

[BookLay]

I am preparing the amortization schedule for leased assets. Where can I find the borrowing rate to calculate the ROU asset for a lease printer?

 

[DrStrangeLove]

It should be in the lease. If it's not explicitly in the lease, do you know the incremental borrowing rate of your firm? Double-check ASC 842 for the details, and heck out the following article from Thomson Reuters.

ASC 842 & the Incremental Borrowing Rate: Overcoming challenges

 

[BookLay]

Our previous CPA used a memo stating that the Wall Street Journal prime rate for July 2019 was 5.5%, and he deducted 1.75% to calculate the present value. I reviewed the WSJ prime rate for our new lease date in October 2024, which is 8%. Should I also deduct 1.75% to determine the incremental rate?