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An antenna theory (AT) approach in the frequency domain is presented to compute electromagnetic fields radiated by a lightning return stroke. The lightning channel is modeled as a lossy-wire monopole antenna (a wire antenna with distributed resistance) energized by a current source at its base, and the ground is modeled as a lossy half-space. The method of moments is used for solving the governing electric field integral equation (EFIE) in the frequency domain. The resultant current distribution along the channel is used to calculate electromagnetic fields at different distances from the channel. All field components are evaluated using a rapid but accurate procedure based on a new approximation of Sommerfeld integrals. In contrast with the previous models, the approach proposed here is characterized by a self-consistent treatment of different field components in air or on the surface of a lossy half-space. It is shown that the omission of surface wave terms in the general field equations, as done in the perfect-ground approximation, can strongly affect model-predicted field components.