On 1 Jan 2021 Harraz Bhd enters into a lease agreement for the use of a manufacturing building for a period of 10 years. At the time the main facts about the building and the lease were as follows: Fair value : RM350,000 Remaining economic life : 55 Years Lease Payments 2021- 2025=NIL Lease payments 2026-2031= RM59,000 per year(payable in advance on 1 january of each year) Required: a. How Harraz Bhd should treat this lease? (3 Marks) b. Based on your answer in (a),what would the accounting treatment upon initial recognition of the lease be? (3 Marks)