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Welcome to Accounting Academy with Fitz and his dog FIFO. They are here to help people learn more about accounting. Today, they are assisting Laine, who owns a dog collar manufacturing company experiencing rapid growth. Laine is considering abandoning the lease for their old building as they have moved into a new facility. Laine explains that they are in year 5 of a 10-year lease for $1000 a year and won't fully be out of the old building until year 6.
