Ward Products leased office space under a 10-year operating lease agreement. The lease specified 120 monthly rent payments of $6,600 each, beginning...

Ward Products leased office space under a 10-year operating lease agreement. The lease specified 120 monthly rent payments of $6,600 each, beginning at the inception of the lease. In addition to the first rent payment, Ward also paid a $190,000 advance payment at the lease's inception.