Phoenix Agency leases office space. On January 3, Phoenix incurs $38,400 to improve the leased office space. These improvements are expected to yield benefits for 5 years. Phoenix has 3 years remaining on its lease. Compute the amount of expense that should be recorded the first year related to the improvements.
A. $7680.
B. $20,100.
C. $12,800.
D. $7300.
E. $14,980.
Answer: C
Business
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