BE 15-18 Is it a lease? LO15-7 Able Equipment entered into an arrangement to provide M. T. Bin Wholesale's data center with Able's newest server model. Due to security processes in place for its customer data. M. T. Bin requires access to the equipment and the ability to direct its use. Able can replace or reconfigure the equipment if Able finds it's financially advantageous to do so. Does the contract contain a lease? BE 15-19 Nonlease payments LO15-2.LO15-7 On January 1, 2021, Jasperse Corporation leased equipment under a finance lease designed to earn the lessor a 12% rate of return for providing long term financing. The lease agreement specified ten annual payments of $75,000 beginning January 1, and each December 31 thereafter through 2029 A 10-year service agreement was scheduled to provide maintenance of the equipment as required for a fee of $5,000 per year. Insurance premiums of $4.000 annually are related to the equipment. Both amounts were to be paid by the lessor and lease payments reflect both expenditures. At what amount will Jasperse record a right-of-use asset?