12. 15.00 points Maker Corp. manufactures imaging equipment. 1 Easy Leasing purchased an MRI machine from Maker for $910,000 and leased it to lmaging Group, Inc., on January 1, 2016. (FV of $1, PW of $1, FVA of $1, PVA of $1, EVAD of $1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Lease description: Quarterly rental payments $59,385: beginning of each period Lease term 5 years (20 quarters) No residual value; no BPO Economic life of MRI machine 5 years Implicit interest rate and lessee's incremental borrowing rate 12% $910,000 Fair value of asset Present value c an annuity due of $1:n 20, i 0.03% 15.3238 Collectibility of the rental payments is reasonably assured, and there are no lessor costs yet to be incurred. Required 1. How should this lease be classified by Imaging Group and by 1 Easy Leasing? Imaging Group 1 Easy Leasing