A Alt Corporation enters into an agreement with Yates Rentals Co. on January 1, 2021 for the purpose of machine used in its manufacturing operations. The following data pertain to the agreement 1. The term of the noncancelable lease in 3 years with no renewal option. Payments of 74.804 me dun on January 10% each year, 2. The fair value of the machine on January 1, 2021. in $1,600,000. The machine has a temaining economia. We of years, with no salvage value. The machine reverts to the lessor upon the termination of the lease 3. Alt depreciates all machinery it owns on a straight-line basis 4. All's incremental borrowing rate is 10% per year. Alt does not have knowledge of the simplicit rate used by You PV of Annuity Due 8% 10% 3n 2.78326 2.73554 10n 7.24689 6.75902 What type of lease is this from Alt Corporation's viewpoint? Finance lease Direct financing lease Operating lease Sales-type lease