Saved Help Save & Exit Karla Salons leased equipment from Smith Co. on July 1, 2021, In a finance lease. The present value of the lease payments discounted at 12% was $60,100. Ten annual lease payments of $9,500 are due each year beginning July 1, 2021. Smith Co. had constructed the equipment recently for $51.500, and its retail fair value was $60,100. What amount did Smith Co, record in its income statement for the reporting year ending December 31, 2021, in connection with the lease? (ignore taxes.) Multiple Choice $8.500 91' 9 N A Search