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MC Qu. 39 LO 15-04 On January 1, 2016, Gibson Corporation entered into a four-year......

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Accounting

MC Qu. 39 LO 15-04 On January 1, 2016, Gibson Corporation entered into a four-year... On January 1, 2016, Gibson Corporation entered into a four-year operating lease. The payments were as follows: $26,000 for 2016, $20,500 for 2017, $18,000 for 2018, and $14,500 for 2019. What is the correct amount of lease expense for 2017? $26,000. $19,750. $20,500. $23,250.

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