When Athens Bakery started its business, it paid the rental on its bakery buildings
six months in advance. After that, it was required to pay 12 months in advance. Rent
payments in the first three years were:
● Start of Year 1: £6,000 for six month’s rent
● Halfway through Year 1: £14,000 for the following twelve months’ rent
● Halfway through Year 2: £16,000 for the following six months’ rent
● Halfway through Year 3: £18,000 for the following six months’ rent.
What is the total rental expense in each of the three years?
