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How much is the total rent expense to be recognized

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Question - On April 1, 2020, Thaliana & Co. leased a computer from Steffany Inc. under a five-year lease contract. Thaliana opted for a PFRS 16 operating lease model since the contract involves a low value asset. Total rent payments for the whole lease term (60 months) are as follow:

First 9 months: 200,000 per month

Next 18 months: 100,000 per month

Next 12 months: 80,000 per month

Next 14 months: 50,000 per month

Remaining 7 months: 70,000 per month

How much is the total rent expense to be recognized by Thaliana for the year 2020?

a. 5,750,000

b. 1,800,000

c. 1,150,000

d. 862,500

Reference no: EM133056933

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