Q Stock&Co enters into a 10 year (non-cancellable period) lease of a storage facility with an option to extend the lease for an additional 5 years. The lease contract was signed on January 1, 2019 with a commencement date of July 1, 2019. Stock&Co are reasonably certain that it will exercise the option to extend the lease. Which of the following statements is correct? Select the one correct option and then select Submit. The lease term is 10 years, with the lease term starting on January 1, 2019. This is because January 1, 2019 is the date on which the contract was signed and Stock&Co should not take into account the extension option as it does not affect the lease term. The lease term is 10 years, with the lease term starting on July 1, 2019. This is because July 1, 2019 is the lease commencement date and Stock&Co should not take into account the extension option as it does not affect the lease term. The lease term is 15 years, with the lease term starting on July 1, 2019. This is because July 1, 2019 is the lease commencement and Stock&Co is reasonably certain that it will exercise the extension option (therefore the extension period of a further 5 years should be taken into account in the lease term). The lease term is 15 years, with the lease term starting on January 1, 2019. This is because Stock&Co has the legal right to the underlying asset on the date the contract was signed and Stock&Co is reasonably certain that it will exercise the extension option (therefore the extension of a further 6 years should be taken into account in the lease term). Submit