On 1st January 2019, Sumo LLC made an agreement to lease an item of equipment from Durbon LLC for 5 years. The lease requires five annual payments in advance of OMR 250,000 each starting from 1st January 2019. The useful life of the equipment is 5 years with no scrap value. At a discounting rate of 8 % The present value of total lease payments is 960,000. What is the appropriate interest charged to the income statement and depreciation charged on the lease equipment? (round off to nearest zero)

a) None of them

b) Interest charged OMR 75,200 and depreciation charged on lease equipment OMR 138,000

c) Interest charges OMR 26,600 depreciation OMR 48,000

d) Interest charged OMR 56,800 and depreciation charged on lease equipment OMR 192,000