Phoenix Agency leases office space on January 3, Phoenix Incurs $38,400 to improve the leased office space. These Improvements are expected to yield benefits for 5 years. Phoenix has 3 years remaining on its lease. Compute the amount of expense that should be recorded the first year related to the improvements () $7,680. O $7,300. O $12,800. O $14,980. O $20,100