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SLG Inc. (Lessor) signs a lease for office space with WWerks Inc. (Lessee) for 10 years on May 1st at $1,200,000 per annum. The office
SLG Inc. (Lessor) signs a lease for office space with WWerks Inc. (Lessee) for 10 years on May 1st at $1,200,000 per annum. The office space is available to WWerks for immediate occupancy, but WWerks modernizes the space and only takes occupancy on July 1st. SLG provided WWerks six (6) months free rent as an inducement for WWerks to sign the lease by May 1st. At year-end (assuming a calendar year-end) what is the amount of rental income that SLG should recognize in its financial statements
A) $0
B) $570,000
C) $600,000
D) Other $_________
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