5-year noncancellable lease signed on 31 December 2006 requires annual payments of $ 47963.24, beginning on 31 December 2006. The present value of the lease payments discounted at the appropriate interest rate of 10% is $ 200000. Assuming zero residual value and that the first lease payment is made on 31 Decemeber 2006, the reported lease expense for the year ended 31 December 2007 is:（）
A. $ 60000.
B. $ 70000.
C. $ 55204.
参考答案：C
解析：
The first payment is made at lease inception, so the lease liability balance as of 31 December 2006 is $200000-$47963.24=$152036.76. (Think of this payment at inception as a down payment, with the lease financing the remaining balance.) Interest expense for 2007=$152036.76×10%=$15204 Depreciation expense=$200000/5=$40000 Lease Expense for 2007=$15204+40000=$55204