On 1 October 20X4 Flash Co acquired an item of plant under a five-year lease agreement. At that date the present value of the total lease payments was $25m. The agreement had an implicit finance cost of 10% per annum and required an immediate deposit of $2m and annual rentals of $6m paid on 30 September each year for five years.
What is the current liability of the lease in Flash Co’s statement of financial position as at 30 September 20X5?