Corinth Co. leased non-speclalized equipment to Athens Corporation for an elght-year perlod, at which time possesslon of the equipment will revert back to Corlnth. The equipment cost Corlnth $16 million and has an expected useful life of 12 years. Its normal sales price is $22.4 million. The present value of the lease payments for both the lessor and lessee is $20.6 million. The first payment was made at the beginning of the lease