An exporter has approached the JKL Bank and you have signed a contract for financial lease for ten years. Which of the following will be considered an example involving balloon payment?

Exporter made regular monthly payments of $$1,000$ each for ten years and became the bank retained the title of the asset.

Exporter made regular monthly payments of $$1,000$ each for ten years and then made a payment of $$12,000$ as a full and final payment at the end of the lease. By doing so$,$ the exporter became the owner of the asset.

Exporter made regular monthly payments of $$1,000$ each for ten years and became the owner of the asset.

Exporter made regular $$12,000$ as a full and final payment. The bank retained the title of the asset after the end of the lease.