Lee Company received an HK$1,800,000 subsidy from the government to purchase manufacturing equipment on January, 2, 2015. The equipment has a cost of HK$3,000,000, a useful life a six years, and no salvage value. Lee depreciates the equipment on a straight-line basis. If Lee chooses to account for the grant as deferred revenue, the grant revenue recognized will be: Select one: O a. HK$300,000 per year for the years 2015-2020. b. $HK1,800,000 in 2015 C. HK$500,000 per year for the years 2015-2020. d. Zero in the first year of the grant's life