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JIL December 3 1, 2012, HuskiES Inc. leased a PIECE Of Equipment for its factory for ten Years , Which isalso equal to the useful life of the equipment . Annual payments of $50, OOD are to BE Made EVERYDecember 3 1, starting with December 31, 2012 ( day one of the lease) . The interest rate Huskies wouldhave had to pay to take out a loan to purchase the Equipment would have been 596 . Huskies uses straight -line depreciation on its Equipment and has a calendar year End .Required .1 . Is this lease a finance ( LE . capital; lease ? ( GEE FARE ? 26 Of Your text . ) Explain why or why not .ASSURing It is a finance lease, Complete the following questions ( Show all calculations ! !2. Prepare the lease amortization schedule using the effective interest method to show the 10 - yearallortization of the lease Obligation .