On January 1, 2021, Yancey foc a 10-yecancelablement la sorge building from Holt Warehouse Company Collectity of payments sonably predictable and important concert surround the amount of costs yet to be incurred by the lot. The following information pertains to this les Agreement (-) The greement requires equal rental payments at the beginning each year. (b) The fair value of the building on January 1, 2011 is $5.000.000; however, the book value to Holt is 54,950,000 (c) The building has an estimated economie life of 10 years, with no residual value. Yancey depreciates similar buildings using the straight-line method. (d) At the termination of the leise, the title to the building will be transferred to the lessee. (e) Yancey's incremental borrowing rate is 11% per yeat. Holt Warehouse Co set the annual rental to insure a 10% rate of return. The implicit rate of the lessor is known by Yancey, Inc (O The yearly rental payment includes $15,000 of executory costs related to taxes on the property Yancey, Inc. would record amortization expense on this asset in 2021 of (rounded to the nearest dollar) Oso O $495,000 $976471 O $610,139