Kingbird company laces an automobile with a fair value of 20,299 from Jason motors Inc. on the following terms.

Kingbird Company leases an automobile with a fair value of $20,299 from Jason Motors, Inc, on the following terms. 1. Non-cancelable term of 50 months 2. Rental of $430 per month (at the beginning of each month), (The present value at 0.5% per month is $19.076 ) 3. Kingbird guarantees a residual value of $1,030 (the present value at 0.5% per month is $803 ). Kingbird expects the probable residual value to be $1,030 at the end of the lease term. 4. Estimated economic life of the automobile is 60 months: 5. Kingbird's incremental borrowing rate is 6% a year (0.50% a month). Jason's implicit rate is unknown. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided) (a) What is the nature of this lease to Kingbird? The nature of this lease is a/an lease