on june 30, 2023 Jones inc. purchases land in state pink for $1.2 million. it plans to utilize the land for a new plant that it will self construct on the land over a three year period. in may 2023, jones inc., also sets up a new subsidary big lift inc. which purchases a $1 million construction crane. big lift inc., entered into a three-year lease with jones inc., whereby it leases the cranes to jones inc., for $200,000 a year. at the end of the three years big lift plans to sell the crane for $500,000. there is strong objective evidence that a three-year old crane will have a fair market value of $500,000 at the end of the three year lease term. TRUE OR FALSE: Big lift inc., will pay sales tax in 2023 on the $1 million cost of the crane and Jones Inc., will pay sales tax on the cost of the land