Question 11 1 pts On January 2, 2021, Hernandez, Inc. signed a 20-year noncancelable lease for a heavy duty drill press. The lease stipulated annual payments of $300,000 starting at the beginning of the first year, with title passing to Hernandez at the expiration of the lease. Hernandez treated this transaction as a finance lease. The drill press has an estimated useful life of 15 years, with no salvage value. Hernandez uses straight-line amortization for all of its plant assets. Aggregate lease payments were determined to have a present value of $2,809,476, based on implicit interest of 10%. In its 2021 income statement, what amount of amortization expense should Hernandez report from this lease transaction? $140,474 $93,649 $280,948 O $187.298