answer all 3 questions with explanation please

A noncancelable lease contains an option to purchase a leased asset at a price that is sufficiently lower than the asset's expected fair value so that the exercise of the option appears reasonably certain. The fair value of the asset exceeds the lessor's cost of the asset. Therefore, the lease will be accounted for by the lessor as atm A. Sales-type lease. C. Operating lease. D. Short-term lease. E. Bargain lease. 9. On October 1, 2018, Justine Company purchased equipment from Napa Inc. in exchange for a noninterest- bearing note payable in five equal annual payments of $500,000, beginning Oct 1, 2018. Similar borrowings have carried an 11% interest rate. The equipment would be recorded at A. $2,500,000. 8. $2,119,860. C. $1,847,950. D. $2,051,225 E. None of the above so o, oo PVADCreS,://%) 10. On January 1, 2018, Packard Corporation leased equipment to Hewlitt Company. The lease term is eight years The first payment of $450,000 was made on January 1, 2018. Remaining payments are made on December 31 each year, beginning with December 31, 2018. The equipment cost Packard Corporation $2,400,000. The present value of the lease payments is $2,640,000. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 10%, what will be the balance reported as a liability by Hewitt in the December 31, 2019, balance sheet? A. $1,950,000. . $1,509,000. C. $1,959,000. D. $1,704,900. E. None of the above. /is. 2,640,0 12/s1/