Current Attempt in Progress On December 31, 2019, Teal Mountain Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Teal Mountain to make annual payments of $8,200 at the beginning of each year of the lease, starting December 31, 2019. The machine has an estimated useful life of 6 years and a $5.500 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Teal Mountain uses the straight-line method of depreciation for all of its plant assets. Teal Mountain's incremental borrowing rate is 12%, and the lessor's implicit rate is unknown Click here to view factor tables. (a) What type of lease is this? This is a/an lease.