Question: On January 1 , 2 0 2 2 , IC Leasing Corporation leased equipment to Georgia - Atlantic under a lease agreement that qualifies as

On January 1,2022, IC Leasing Corporation leased equipment to Georgia-Atlantic under a lease agreement that qualifies as an operating lease to Georgia-Atlantic. The present value of the end-of-year lease payments of $170,459 discounted at 11% is $630,000. The expected economic life of the asset is seven years. The lease term is five years. What would Georgia-Atlantic record as amortization in 2022?
Multiple Choice
$170,459.
$0.
$101,159.
$256,126.

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