Question 26 10 pts Be sure to answer all three parts of this question, and to format your entries appropriately. Below are three lease transactions for SKN in 2022 as the Lessee. All leases start on 1/1/2022. Lessors BJN Leasing VNN Leasing CMN Leasing Corporate Specialized Type of property Data Center Helicopter Equipment Yearly rental $7,445,064 $5,449,423 $2,851,861 Lease term 15 years 15 years 20 years Estimated economic life 25 years 25 years 25 years Fair market value of leased asset $75,900,000 $44,000,000 $32,000,000 Present value of the rental payments $63,000,000 $40,000,000 $28,000,000 Purchase price at end of lease $32,000,000 $7,000,000 $14,000,000 Instructions (and a hint: remember the five criteria for a finance lease? Only one needs to be met) a. Identify the three above leases as either operating leases or finance leases. b. Record the initial journal entry for all of the above that are finance leases. c. Record the initial journal entry for all of the above that are operating leases. Note: Make sure to format your entries properly, whether you are using a table or plain text entry. Edit View Insert Format Tools Table 12pt * Paragraph * B I U A v Z v Ty