Lessors VNN Leasing BVC Leasing JLL Leasing Type of property Corporate Helicopter Data Center Specialized Equipment Yearly rental $7,445,064 $4,449,423 $2,851,861 Lease term 15 years 15 years 20 years Estimated economic life 25 years 25 years 25 years Fair market value of leased asset $75,900,000 $44,000,000 $32,000,000 Present value of the rental payments $63,000,000 $30,000,000 $28,000,000 Purchase price at end of lease $6,000,000 $26,000,000 $14,000,000 Instructions (and a hint: remember the five criteria for a finance lease? Only one needs to be met) Identify each of the three above leases as either operating leases or finance leases. Record the initial journal entry in January 2024 for all of the above that are finance leases. Record the initial journal entry in January 2024 for all of the above that are operating leases