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Lessee leases copy machine from Lessor. Lessor agrees to provideall maintenance service. Lease payment is $1000 per month.Maintenance service has FMV of $200/month. What are the leasecomponents within this contract? What amount of lease payment willbe used in measuring the lease liability/payable byLessee/Lessor?How will the Lessee and Lessor account for initial directcosts?At what amount does a Lessee measure the Lease liability in aFinancing lease? Operating lease?At what amount does a Lessee measure a Right of Use Asset in aFinancing lease? Operating lease?Over what period does a Lessee amortize the Right of Use Assetin a Financing lease? Operating lease?How does the Lessee’s amortization of Right of Use Asset differbetween Financing lease and Operating lease?How does Lessee report the amortization and interest componentsof lease expense on the income statement under an OperatingLease?How does the Lessor’s discount rate differ when initial directcosts are capitalized versus when they are not capitalized?At what amount does a Lessor measure the “Investment in Lease”asset account in a Sales lease? Direct Financing lease?Does a Lessor recognize profit in a Direct Financing Lease?In a Sales lease in which the leased asset cost differs frommarket value at lease inception, how much sales revenue does theLessor recognize? How much cost of sales does the Lessorrecognize?