On January 2, 2008, Boston Corporation entered into a 10-year noncancelable lease requiring year-endpayments of $60,000. The incremental borrowing rate for Boston is 10%. The lessors implicit rate(which is known by Boston) is 12%. The lease contains no transfer of title or bargain purchase optionprovisions. The leased property has an estimated economic life of 12 years. At what amount should thelease be capitalized by Boston?a.$0b.$339,012c.$368,676d.$600,000