l l0W should Callaway e tes not anster btle or contain a bargan purhage optultut, litu ts ia p a I classify this lease? y Co. processes jam and sells it to the public. Jelly leases equipment used in its production processes BE21-2 (Lo2] Jelly process Squishy, Inc. payments of $15,000 at the tra year for a payment at the end of the fifth vear of $10,000 (which Jelly is reasonably certain it will exercise). The equipment las a rair value at the commencement of the lease of $76,024 and an estimated useful life of 7 years. Squishy set the annual rental his year, Jelly leases a new piece of equipment from Squishy. The lease term is 5 years and requires e equal rental beginning of each year. In addition, there is a renewal option to allow Jelly to keeP to earn a rate of return of 5%, and this fact is known to Jelly. The lease does not transfer title, does not contain abangan purchase option, and the equipment is not of a specialized nature. How should Jelly classify this lease