b. Marquardt Company signs a 5-year lease related to office space at an annual rental of 30,000. At the end of the second year, the company decides to close its operation in this part of country. Its lease is non-cancelable, and the penalty for non-payment is 62,000. The present value of future payments on the lease is estimated to be 81,000. The company does not believe that it can sublet these facilities. Prepare the journal entry to record this entry on December 31, 2015