Metiock Corporation has signed a 5 -year lease for machinery with a cost of $225,000. The asset has an economic life of 9 years with zero salvage value. Annual minimum lease payments made at the end of year are $39,000 and the discount rate is 6%. There is no bargain purchase option available on the lease. Identify whether the machinery should be treated as an operating or capital lease assuming Metlock follows ASPE. The machinery should be treated as a(