BookCook Company leases an asset. Information regarding the lease: Fair value of the asset: $400,000. Useful life of the asset: 6 years with no salvage value. Lease term is 5 years. Present value of the total annual lease payments are $60,000 Fair market value of the leased asset is 70,000. BookCook can purchase the asset at the end of the lease period for $50,000. For BookCook, what type of lease is this? Question 6Select one: a. Operating b. Finance c. Short term d. Sales-type