During the year ended 30 September 20X4 Hyper entered into two lease transactions. 1) On 1 October 20X3, Hyper made a pa

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During the year ended 30 September 20X4 Hyper entered into two lease transactions.
1) On 1 October 20X3, Hyper made a payment of $90,000 being the first of five equal annual payments under a lease for an item of plant. The lease has an implicit interest rate of 10% and the present value of the total lease payments on 1 October 20X3 was $340,000.
2) On 1 January 20X4, Hyper made a payment of $18,000 for a one-year utility bill.
What is total amount of expenses to be shown in Hyper’s statement of profit or loss (income statement) for the 12 months ended 30 September 20X4 in respect of the above transactions? Show your workings.