The Doxey Co. leased equipment to the Blue Co. Data follows: Fair market value of the equipment is $400,000. The lease payments are $38,000 payable at the end of the year for 12 years. There is no bargain purchase agreement or transfer to Doxey Co. at the end of the lease term. The interest rate is 8% and the useful life of the equipment is 15 Years. Required: Use the 5 lease criteria to determine if the lease qualifies as financing by Doxey Co