On January 1, 2006, West Co. entered into a ten-year lease for a manufacturing plant. The annual minimum lease payments are $100,000. In the notes to the December 31, 2006 financial statements, what amounts of subsequent years’ lease payments should be disclosed?

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Amount for appropriate required period

Aggregate amount for the period thereafter

a.

$100,000

$0

b.

$300,000

$500,000

c.

$500,000

$300,000

d.

$500,000

$0