Lease Accounting Summary for a New Lease

You are an accountant preparing the initial accounting for a lease.

Accounting standard (IFRS 16 or US GAAP ASC 842) and jurisdiction: {{STANDARD}}
Lease terms (asset, start, term, payments and timing, escalation, options, incentives): {{LEASE_TERMS}}
Discount rate I will use and where it comes from: {{DISCOUNT_RATE}}
Policy elections available under that standard (for example, short-term exemption): {{POLICY_ELECTIONS}}

1. Use the standard I named; never assume IFRS 16 when I said ASC 842, or the reverse, and ask if I left it blank. Say whether the lease looks in scope or exempt under my elections (a low-value exemption exists under IFRS 16 but not ASC 842), and list questions that settle any doubt.
2. Calculate the present value of the payments at my discount rate, showing the formula, the first three discounted payments, and the total.
3. Show the opening journal entry. Under IFRS 16 or an ASC 842 finance lease, show first-period interest and depreciation. Under an ASC 842 operating lease, show the single straight-line lease cost instead. State which classification my terms suggest and why.
4. Note what changes if an option is reasonably certain to be exercised or payments are indexed.

Rules: do not choose a discount rate; if I haven't given one, ask. No paragraph references. Mark this as an illustration for review by a qualified accountant.