Question: please show work Question 3 0 / 4 pts On 01-01-15, Smith leased a machine for 7 years and appropriately accounted for the lease as
please show work

Question 3 0 / 4 pts On 01-01-15, Smith leased a machine for 7 years and appropriately accounted for the lease as a long-term finance lease. Smith's annual lease payment will be of $100,000 with the first of the 7 lease payments occurring on 01-01-15. Smith will use the machine 01-01-15 through 12-31-21. On 01-01-22, Smith will return the machine to the lessor. Smith used an interest rate of 6% relating to this lease. What amount will Smith record as interest expense for the 12 months ended 12- 31-17? $16,038 O $29,504 $0 $25,274 r $20,791
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