QUESTION 2 On January 1, 2011, Alkhaleej Inc. leased a crane from another company. Based on the lease contract the following information is given: Lease term: 4 years Annual payment: 10,000 end of the period) Useful life: 6 years Fair value of the asset $44,000 Lessor's rate: 5% (known by the lessee) Lessee's rate: 5% Requirements: Requirement 1: What type of lease is this (lessee prospective) and why? Requirement 2: Write the joumal entries At the inception of the lease contract at January Requirement 3: Write the journal entries for First payment TTT Aria 3112pt) T. E LE