Mueninghoff Company enters into a nine-year lease on January 1, 2020 that requires lease payments to increase by 5% each year. The lease requires payments to be made on December 31 each year with the first payment to be made on December 31, 2020. Under ASC 842 operating lease accounting, lease expense will Multiple choice question. be less than the amount of the lease payment made on December 31, 2020. equal the amount of the lease payment made on December 31, 2020. exceed the amount of the lease payment made on December 31, 2020