Question 29 On June 30, 2018, Ivanhoe Co. sold equipment to an unaffiliated company for $2100000. The equipment had a book value of $1130000 and a remaining useful life of 10 years. That same day, Ivanhoe leased back the equipment at $12200 per month for 5 years with no option to renew the lease or repurchase the equipment. Ivanhoe's rent expense for this equipment for the year ended December 31, 2018, should be $292800 $122000. O $97600. O $73200