Assume you are on the audit team for a publicly traded company that owns the New York Yankees and writing the memo to the Vice President of the company's accounting department, who has asked your help to research the following accounting issue pertaining to the Yankees' luxury suite licenses. Baseball Suites-Lease Evaluation The New York Yankees offer multiyear luxury suite licenses to customers, including 3-, 5-, and 10-year licenses. Customers who sign these license agreements have the right to use a specified suite in the stadium (say, suite no. 25) for the dates specified in the license agreement. Alternatively, customers with a more limited interest or budget can sign up for a partial season (a 20- or 41-game plan) where the customer can specify which games it wishes to view from the suite. While the customer is enjoying the suite, a third-party conces- sionaire (similar to Presto's role) will provide premium food and beverage service to guests in the suite. Evaluateis a suite license a lease? Assume a customer signs a 20-game license for specified games to occur within a single major League Baseball season.