Exercise 21-14 On February 20, 2017, Martinez Inc. purchased a machine for $1,488,000 for the purpose of leasing it. The machine is expected to have a 10-year life, no residual value, and will be depreciated on the straight-line basis. The machine was leased to Sandhill Company on March 1, 2017, for a 4-year period at a monthly rental of $20,600. There is no provision for the 2017 renewal of the lease or purchase of the machine by the lessee at the expiration of the lease term. Martinez paid $32,640 of commissions associated with negotiating the lease in February (a) What expense should Sandhill Company record as a result of the facts above for the year ended December 31, 2017? the year ended December 3 or in b) hat income or loss before income taxes should Martinez record as a result of the acts above lease Amortize commissions over the re r the Income from lease before taxes s