Use the following information for questions $54$ through $59.($Annuity tables on pages $21-32.)$

On January $1,2021,$ Yancey, Inc. signs a $10-$year noncancelable lease agreement to lease a storage building from Holt Warehouse Company. Collectibility of lease payments is reasonably predictable and no important uncertainties surround the amount of costs yet to be incurred by the lessor. The following information pertains to this lease agreement.

$($a$)$ The agreement requires equal rental payments at the beginning each year.

$($b$)$ The fair value of the building on January $1,2021$ is $$6,000,000$; however, the book value

$$ to Holt is $$4,950,000.$

$($c$)$ The building has an estimated economic life of $10$ years, with no residual value. Yancey

$$ depreciates similar buildings using the straight$-$line method.

$($d$)$ At the termination of the lease, the title to the building will be transferred to the lessee.

$($e$)$ Yancey's incremental borrowing rate is $11\%$ per year. Holt Warehouse Co$.$ set the annual

$$ rental to insure a $10\%$ rate of return. The implicit rate of the lessor is known by Yancey, Inc.

$($f$)$ The yearly rental payment includes $$15,000$ of executory costs related to taxes on the

property.

From the lessee's viewpoint, what type of lease in this?

Group of answer choices

Finance lease

Sale$-$leaseback

Operating lease

Sales$-$type lease