iste E21-14 (L02,3) Operating Lease for Lessee and Lessor) On February 20, 2017, Barbara Brent Inc. purchased a machine for $1,500,000 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 Rudy Company on March 1, 2017, for a 4-year period at a monthly rental of $19,500. There is no provision for the renewal of the lease or purchase of the machine by the lene at the expiration of the lease term, Brent paid $30,000 ot commissions associated with negotiating the love in February 2017 Instructions (a) What expense should Rudy Company record is a result of the facts above for the year ended December 31, 2017 Show supporting computations in good form. (b) What income or loss before income taxes should Brent record as a result of the facts above for the year ended December 31, 20177 (Hint: Amortize commissions over the life of the lease) CAICIPA adapted) P21-21