Which of the following lease conditions would result in a finance lease to the lessee?

a. The lessee can purchase the property for \(\$ 1\) at the end of the lease term.

b. The lease term is \(70 \%\) of the property's economic life.

c. The fair market value of the property at the inception of the lease is \(\$ 18,000\); the present value of the minimum lease payments is \(\$ 16,000\).

d. The lessee will return the property to the lessor at the end of the lease term.