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(5 points) Vontsira recently entered into an unguaranteed, 6 year, finance lease. The asset was recorded at $5,005,000 and has an economic life of 9

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(5 points) Vontsira recently entered into an unguaranteed, 6 year, finance lease. The asset was recorded at $5,005,000 and has an economic life of 9 years. At the end of the lease term the asset will have a market value of $751,000. The estimated market value at the end of the asset's economic life is $300,000. At the end of the lease Vontsira will return the asset. How much depreciation expense should Vontsira record for the first year of the lease? (IFO 20) $709,000 $522,778 $834,167 $556,111

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