Ivanhoe Co. leased equipment to Riggs Company on May 1, 2021. At that time the collectibility of the lease payments was not probable. The lease expires on May 1, 2022. Riges could have bought the equipment from Ivanhoe for $5700000 instead of leasing it. Ivanhoe's accounting records showed a book value for the equipment on May 1, 2021, of $5000000. Ivanhoe's depreciation on the equipment in 2021 was $650000. During 2021, Riges paid $1308000 in rentals to Ivanhoe for the 8-month period. Ivanhoe incurred maintenance and other related costs under the terms of the lease of $114000 in 2021. After the lease with Riges expires, Ivanhoe will lease the equipment to another company for two years. Ignoring income taxes, the amount of expense incurred by Riges from this lease for the year ended December 31, 2021, should be O $650000 O $1186000 O $536000. O $1308000