Phoenix Agency leases office space for $6,400 per month On January 3, Phoenix incurs $71,400 to improve the leased office space. These improvements are expected to yield benefits for 8 years. Phoenix has 6 years remaining on its lease. Compute the amount of expense that should be recorded the first year related to the improvements. Multiple Choice 15.325 $11,900 8,925 $6,400 18,300