8. On January 2, 2018, Nori Mining Co. (lessee) entered into a 5-year lease for drilling equipment. Nori accounted for the acquisition as a finance lease for $443,000, which includes a $34,000 purchase option. At the end of the lease, Nori is reasonably certain to exercise the purchase option. Nori estimates that the equipment's fair value will be $56,500 at the end of its 8-year life. Nori regularly uses straight-line depreciation on similar equipment. For the year ended December 31, 2018, what amount should Nori recognize as amortization expense on the leased asset? Not-first year lease Is- Useful Life