Let me try.

Lease term:

1.99-year

2.The base rent will increase every 10 years for the duration of the lease. The base rent increases will be based on the Consumer Price Index (“CPI”), but shall not be less than 20 percent nor greater than 60 percent for a 10-year period.

3.MM has the right to terminate the agreement at any time. In the event that MM elects to exercise the right to terminate the lease, MM would transfer title to the building and related leasehold improvements to the Duck.

For how to recognize rent expense, I think you can refer to Intermediate Accounting for the chapter of Lease. You will have the correct answer.