Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January $1,2022.$ The manufacturing cost of the computers was $$12$ million.

This noncancelable lease had the following terms:

$$Lease payments: $$2,466,754$ semiannually; first payment at January $1,2022$; remaining payments at June $30$ and December $31$ each year through June $30,2026.$

$$Lease term: five years $(10$ semiannual payments$).$

$$No residual value; no purchase option.

$$Economic life of equipment: five years.

$$Implicit interest rate and lessee's incremental borrowing rate: $10\%.$

$$Fair value of the computers at January $1,2022$: $$20$

million.

Technoid would account for this as