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On January 1, 2016, Gibson Corporation entered into a four-year operating lease. The payments were as follows: $27,000 for 2016, $21,000 for 2017, $19,000 for 2018, and $15,000 for 2019. What is the correct amount of lease expense for 2017?
$20,500. $21,000. $24,000. $27,000.
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