Crane Inc. entered into a five-year lease of equipment from Zdrinka Inc. At the lease’s inception, it is estimated that the equipment has an economic life of eight years and fair value of $245,000. PV of minimum lease payments amounts to $211,294.37. The lease does not transfer title or contain a bargain purchase option. What is the nature of the lease assuming Crane follows IFRS 16? Crane should classify the lease as select a nature of the lease . 

E-Textbook and Media How should Crane classify this lease assuming it follows ASPE? Crane should classify the lease as select a nature of the lease .