BE $152$ Lease classification $$ LO$151,$ LO$152$

Corinth Co$.$ leased non$-$specialized equipment to Athens Corporation for an eight$-$year period, at which time possession of the equipment will revert back to Corinth. The equipment cost Corinth $$16$ million and has an expected useful life of $12$ years. Its normal sales price is $$22\mathrm{.}4$ million. The present value of the lease payments for both the lessor and lessee is $$20\mathrm{.}6$ million. The first payment was made at the beginning of the lease. How should Athens classify this lease?