Assume that a landlord offers to rent office space to an accounting firm for three years, for a total amount of rental of $360,000.

The lease will start on November 1, Year 1.

The landlord tells the accounting firm it can either pay a monthly rental of $10,000 each month for 36 months, or it can pay no rent for the first two months, and pay rent of $10,589 for the remaining 34 months. If the accounting firm chooses the second option, and pays no rent in November and December Year 1, would it be able to say for GAAP purposes that it had no rent expense in Year 1? Explain your answer.