Saved A necessary condition for a sales-type lease is: Multiple Choice Legal title to the asset transfers to the lessee The present value of lease payments exceeds the lessor's cost The lessee considers the lease to be a finance lease The lessor earns selling profit instead of interest revenue In a ten-year finance lease, the portion of the annual lease payment in the lease's third year that represents interest is: Multiple Choice The same as in the fourth year The same as in the first year Less than in the second year More than in the second year cson Fruits leased farm equipment from Barr Machinery on July 1, 2021. The lease was recorded as a sales-type lease. The present value of the lease myments discounted at 10% was $40.5 million, Ten annual lease payments of $6 million are due at the beginning of each year beginning July 1, 2021. Barr had archased the equipment for $33 million. What amount of interest revenue from the lease should Barr report in its 2021 income statement? Multiple Choice $2,025.000 $1.725,000 $1,650,000 o so