4 On January 1, 2018, Walter Scott Co. leased non-specialized machinery under a 6-year lease. The machinery has a 9-year economic life. The present value of the monthly lease payments is determined to be 80% of the machinery's fair value. The lease contract includes neither a transfer of title to Scott nor a bargain purchase option. What amount should Scott report in its 2018 income statement? points Multiple Choice 005819 Lease expense equal to the 2018 lease payments Lease expense equal to the 2018 lease payments minus interest Amortiration expense equal to one-sixth of the machinery's fair value Amortization expense equal to one-rinth of the equipments fair value