Phoenix Agency leases office space for $7,800 per month. On January 3, Phoenix incurs $66,500 to improve the leased office space. These improvements are expected to yield benefits for 7 years. Phoenix has 5 years remaining on its lease. Compute the amount of expense that should be recorded the first year related to the improvements. Multiple Choice O O $21,100. $7,800. O $17,300. O $9,500. O O $13,300