Maker Corp. manufactures imaging equipment. 1 Easy Leasing purchased an MRI machine from Maker for $990,000 and leased it to lmaging Group, Inc., on January 1, 2016. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Lease description: $76,519: beginning of each period Quarterly rental payments Lease term 4 years (16 quarters) No residual value; no BPO Economic life of MRI machine 4 years Implicit interest rate and lessee's incremental borrowing rate 12% $990,000 Fair value of asset 12.9379 Present value of an annuity due of $1: n 16, i 0.03% Collectibility of the rental payments is reasonably assured, and there are no lessor costs yet to be incurred Required 1. How should this lease be classified by Imaging Group and by 1 Easy Leasing? Imaging Group 1 Easy Leasing