Define/describe the following lease terms:

1. Lease

2. The two parties involved in the lease.

3. Operating vs Financing Lease

4. Interest Only vs. Sales-Type Lease

5. Guaranteed Residual Value and its impact on the NPV of Minimum Lease Payment calculation

6. Accounting for Executory Costs if the Lessee pays for these

7. Triple Net Lease

8. Discuss how depreciation calculation is different between a lease with a title transfer or bargain purchase option vs a lease that does not contain a title transfer or a bargain purchase option