b$)$

$(4$ Marks$)$

On $1$ January $2022$ Hull Ltd entered into a $10-$month lease for a retail unit.

Lease rent were $12,000$ per month payable in advance. As an incentive

however, Hull Ltd was given the first month as a rent$-$free period.

Required

Calculate the rent expense which should be recognised in Hull Ltd$\text{'}$

statement of profit or loss for the year ended $31$ March $2022.$ Assume that

Hull Ltd elects to use the short$-$term lease exemption under IFRS $16.$