On January 1,2018, Green Co. recorded a right-of-use asset of $270,360 in an operating lease....

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Accounting

On January 1,2018, Green Co. recorded a right-of-use asset of $270,360 in an operating lease. The lease calls for ten annual payments of $60,000 at the beginning of each year. The interest rate charged by the lessor was 10%. Lease expense for 2018, will be:
a) $60,000.
b) $30,000
c) $50,000
d) $12,964.
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