Technoid Incorporated sells computer systems. Technold leases computers to Lone Star Company on January $1,2024.$ The many was $$12$ million.

This noncancelable lease had the following terms:

Lease payments: $$2,466,754$ semlannually; first payment on January $1,2024$; remaining payments on June $30$ and Decerr $2028.$

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

No residual value; no purchase option.

Economic life of equlpment: five years.

Implicit interest rate and lessee's incremental borrowing rate: $5\%$ semiannually.

Fair value of the computers on January $1,2024$: $$20$ million.

Technoid would account for this as a$($n$)$: