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On July 1, 2014, Boron Inc. signed an operating lease for a warehouse for ten years at $15,000 per year. Upon execution of the lease,

On July 1, 2014, Boron Inc. signed an operating lease for a warehouse for ten years at $15,000 per year. Upon execution of the lease, Boron paid $15,000 covering rent for the first year. How much should be shown in Boron's income statement for the year ended December 31, 2014, as rent expense?

a. $0

b. $7,500

c. $15,000

d. $30,000

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