Phoenix Agency leases office space. On January 3, Phoenix incurs $36,600 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 amortization expense that should be recorded the first year related to the improvements. Multiple Choice $14,020. $6,700. $7,320. $12,200. G

Phoenix Agency leases office space. On January 3 , Phoenix incurs $36.600 to improve the leased office space. These improvements are expected to yieid benefitc for 5 years. Phoenix has 3 years remaining on its lease. Compute the amount of amortization expense that should be recorded the first year ietated to the. improvements Multiphe Choice $14,020 56700 $7320 512700