INTERMEDIATE ACCOUNTING (ACo ice Assignment Gradebook ORION Downloadable eTextbook ment CALCULATOR FULL SCREEN PRNTER VERSION fl Exercise 21A-25 a-d Giannis Corporation leases a building to Jabari, Inc. on January 1, 2017. The following facts pertain to the lease agreement 1. The lease term is 10 years with equal annual rental payments of $3,449 at the end of each year. 2. Ownership does not transfer at the end of the lease term, there is no bargain purchase option, and the asset is not of a specialized nature. 3. The building has a fair value of $34,000, a book value to Giannis of $22,000, and a useful life of 15 years. 4. At the end of the lease term, Giannis and Jabari expect the residual value of the building to be $12,000, and this amount is guaranteed by Money, Inc, a thirdp 5. Giannis wants to earn a 5% return on the lease, and collectibility of the payments is probable. Click here to view the factor table. (For calculation purposes, use S Determine the nature of this lease to both Giannis and Jabari. The lease is a/an financing lease The lease is a/an operating lease - to Giannis. o Jabari. LINK TO TEXT r Assume the present value of lease payments and third-party guarantee is S34,000 and the rate or return to amortize the net leese recevable to zero is 13 24%, pro