Dutta Ltd. signed an operating lease on 1 January 20X0. The lease was a 60-year term on a piece of land. The land reverts to the lessor at the end of the lease term. The lease requires annual payments, on each 1 January, of $50,000 for the first 15 years. Annual 1 January payments of $30,000 were required for the second 15 years, 1 January payments of $15,000 for the third 15 years, and 1 January payments of $5,000 for the final 15 years. The lease payments have all been made on schedule but have all been expensed as paid. That is, at the end of 20X4, the 20X0–20X4 rent has been paid and expensed, but the 20X4 books are still open. The lease should have been expensed evenly over the lease term, regardless of the payment scheme.

Required:
1. Provide the entry to correct the error.
2. Determine the amount by which pretax earnings must be adjusted in each prior year when Dutta prepares a five-year summary of financial results.