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What amount of amortization expense would emporia record

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Reference no: EM133184960

Question - Emporia Corporation (lessee) entered into a 5-year lease for equipment that is deemed to be a Finance lease. The residual value of the leased asset is $300,000 at the end of the lease term and is guaranteed by Emporia.

Emporia's Controller has correctly calculated the present value of the ROU Asset in the amount of $900,000.

Required - What amount of amortization expense would Emporia record for the first full year of the lease?

A. $160,000

B. $100,000

C. $180,000

D. $120,000

Reference no: EM133184960

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