Multiple Choice Question 99 On June 30, 2018, Oriole Co. sold equipment to an unaffiliated company for $1550000. The equipment had a book value of $855000 and a remaining useful life of 10 years. That same day, Oriole leased back the equipment at $11100 per month for 5 years with no option to renew the lease or repurchase the equipment. Oriole's rent expense for this equipment for the year ended December 31, 2018, should be $266400. $66600. $111000 O $88800