Long Beach, Inc, a lessor, charges Applewood Corp, a lessee, a $15,000 nonrefundable fee to enter into a 12-month lease. The lease is effective on 9/4/22. It provides for monthly rental of $2,800. In Applewood's income statement for the year ended 12/31/22, rent expense should be Select one: a. $21,200 b. 514,950 c. 516,200 d. 526,200 e. 511,200