16. value: 3.33 points Phoenix Agency leases office space for $7,100 per month. On January 3, Phoenix incurs $88,200 to improve the leased office space. These improvements are expected to yield benefits for 9 years. Phoenix has 7 years remaining on its lease. Compute the amount of expense that should be recorded the first year related to the improvements. $16,900. $19,700. $7,100. 0 $9,800. $12,600