24.(4 points) On 01-01-19, C leased a machine with a useful life of 9 years. The noncancelable lease agreement required C to make 3 annual lease payments of $150,000 starting 01-01-19. At the end of the lease agreement, C will return the machine to the lessor. C's borrowing rate on 01-01-19 was 3%. C uses the straight-line depreciation method (no residual value) and only prepares AJEs every December 31. Determine if this is a short-term or a long-term lease. If it is a long-term lease, determine if it is a long-term finance lease or a long-term operating lease. Prepare the lease-related entries C should make on:

a)01-01-19

b)12-31-19

c)01-01-20

d)12-31-20

e)01-01-21

f)12-31-21