On June 30, 2018, Sunland Co. sold equipment to an unaffiliated compan


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On June 30, 2018, Sunland Co. sold equipment to an unaffiliated company for $1700000. The equipment had a book value of $930000 and a remaining useful life of 10 years. That same day, Sunland leased back the equipment at $11400 per month for 5 years with

Sale price $15.00 Regular price $30.00

On June 30, 2018, Sunland Co. sold equipment to an unaffiliated company
for $1700000. The equipment had a book value of $930000 and a remaining useful life of 10 years. That same day, Sunland leased back the equipment at $11400 per month for 5 years with no option to renew the lease or repurchase the equipment. Sunland's rent expense for this equipment for the year ended December 31, 2018, should be

$68400.
$114000.
$273600.
$91200.

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