A company has entered into a contract to rent a property. However, shortly after signing the contract, the company has decided it no longer wants the property. To get out of the contract, the company can pay a penalty fee of $600,000. Alternatively, the Present Value of the future rental payments on the contract is $550,000. From an accounting perspective, the company should: Select one: a. Recognize an immediate loss of $600,000 b. None of these options c. Ignore this information d. Recognize an asset of $550,000 e. Recognize an immediate loss of $550,000 Clear my choice