Q20

On January 1, 2016, Hudson Corporation entered into a four-year operating lease. The payments were as follows: $25,000 for 2016, $21,000 for 2017, $17,500 for 2018, and $13,500 for 2019. What is the correct amount of lease expense for 2017?

$19,250.

$21,000.

$25,000.

$23,000.