Fiji Airways owns an aircraft worth 15350436 and accumulated depreciation of $5 million. The aircraft has a fair value of $10,408,400. Due to the recent covid-19 crisis Fiji Airways is in a great need of cash to meet the daily operational expenses, however it also needs the aircraft to conduct some repatriation flights and re-commence normal flights when boarders re-open. Thus, Fli Airways decides to sell the aircraft to Qantas at the fair value and then immediately lease it back for the remaining useful life of 10 years. As per IFRS 16, this is a non-cancellable finance lease. Fiji Airways will pay $2 million annually as lease repayment, commencing at the start of the 1st year. Fiji Airways also guarantees the residual value to be $1.5 million at the end of the lease. (Assume an implicit interest rate of 15%) Assume you are preparing the journal entries in the books of the lessee, what amount you will debit the deferred gain by in the first year? O a. 494204 @b. -5796 O C. -57964 d. 1035044