Kingbird Company manufactures a check$-$in kiosk with an estimated economic life of $12$ years and leases it to National Airlines for a period of $10$ years. The normal selling price of the equipment is $$304,659,$ and its unguaranteed residual value at the end of the lease term is estimated to be $$19,400.$ National will pay annual payments of $$40,800$ at the beginning of each year. Kingbird incurred costs of $$164,100$ in manufacturing the equipment and $$3,900$ in sales commissions in closing the lease. Kingbird has determined that the collectibility of the lease payments is probable and that the implicit interest rate is $8\%.$

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$($a$)$

Discuss the nature of this lease in relation to the lessor.

This is a sales$-$typelease $.$

Compute the amount of each of the following items. $($Round present value factor calculations to $5$ decimal places, eg$.1\mathrm{.}25124$ and the final artwers to o decinal places, eg $5,275.)$

$(1)$ Lease receivable $

$(2)$ Sales price

$(3)$ Cost of sales