Question: Multiple Choice Question 99 On June 30, 2018, Blossom Co. sold equipment to an unaffiliated company for $1350000. The equipment had a book value of

Multiple Choice Question 99 On June 30, 2018, Blossom Co. sold equipment to an unaffiliated company for $1350000. The equipment had a book value of $755000 and a remaining useful life of 10 years. That same day, Blossom leased back the equipment at $10700 per month for 5 years with no option to renew the lease or repurchase the equipment. Blossom's rent expense for this equipment for the year ended December 31, 2018, should be O $256800. 0 $107000. $85600. $64200

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