Question 2 1 pts At the beginning of the year, Twain Company entered into a 5-year lease that is classified as a finance lease, because the lease is for the life of the asset. The present value of the lease payments at the commencement dates was $35,720, the annual lease payment is 8,000, and the interest rate is 6%. Twain also received $600 in lease incentives from the lessor. What amount of amortization expense will Twain report in year 1? 7,744 8,000 O 7,144 O 7,024