Define the difference between Lessor and Lessee. Capital Lease: 75% and 90% rule: Technology company leases two assets to Energy company as follows: Asset 1 - leased asset for 15 years beginning January 1, Year 1 at annual rental of $10,000. The first payment is due at the beginning of the first year. The asset has economic life is 20 years, and FMV of the asset 1 at the inception of the lease $45,000. The lease requires Energy company to pay $1, 500 executor cost. The lease does not transfer ownership and does n to contain a bargain purchase option. Asset 2 - leased asset for 8 years beginning January 1, Year 1 at annual rental of $8,000. The first payment is due at the beginning of the first year. The asset has economic life is 10 years, and FMV of the asset 1 at the inception of the lease $25,000. The lease requires Energy company to pay $1,000 executory cost. The lease does not transfer ownership and does n to contain a bargain purchase option