Lisa's Boutique is renting prime store space at the Regional mall and just signed a five-year lease effective January 1, with the following terms: Refundable security deposit $1,500;Monthly lease payments $3,000;Lease bonus due at signing $18,000;Lisa has had to make significant renovations to the store prior to moving in. The renovations cost $50,000 and have a useful life of 8 years. Lisa's Boutique will record occupancy expense for the year ended December 31, of :

a) $51,100

b) $49,600

c) $49,900

d) $45,850