On January 1, 2023 Chrome Co. signs an agreement with Fox enterprises to lease computer equipment. The term of the lease is 2 years, and payments are due on the December 31 of each year. The equipment has a fair value of $100,000, no residual value and a 3 year economic life, and the cost to Fox was $70,000. Chrome's incremental borrowing rate is 5% and Fox's desired return is 5%. The present value factor of $1 over 2 periods at 5% is 0.90703 , present value of an ordinary annuit for 2 periods at 5% is 1.85941 , and the present value of an annuity due for 2 periods at 5% is 1.9524. a. Which of the following tests would indicate that this lease should be classified as a finance (sales-type) lease? Mark all that apply: Transfer of ownership test Bargain Purchase Option test Present Value test Lease Term test Alternative Use test b. Compute the annual lease payment amount that Fox will charge Chrome based on the information above: c. What entry will Fox record on 1/1/2023 ? d. What entry will Fox record on 12/31/2023