BC Lessee Co. enters a non-cancelable lease agreement with Blackcomb Co. on January 1, 2023, under which Blackcomb Co. leases equipment to BC Lessee Co. Information pertaining to the lease is provided below: Lease payment: $21,750 per year, due at the beginning of each year Lease term: 5 years Lease contains no bargain purchase option, no transfer of ownership, leased asset is not of a specialized nature BC Lessee Co.'s incremental borrowing rate is 9% per year. Blackcomb Co. sets the lease payments to earn an 8% rate of return on the lease. BC Lessee Co. is aware of this rate. Useful life of the leased asset: 8 years The equipment's fair value at the commencement of the lease is $125,000. What is the correct classification of this lease from the perspective of the lessee