4. GHI Company, a private company, decides to lease new manufacturing equipment. The lease qualifies as a capital lease under ASPE. The lease transaction will be recorded at: A. The fair market value of the leased equipment. B. The present value of the lease payments. C. The higher of the fair market value of the leased equipment and the present value of the lease payments. D. The lower of the fair market value of the leased equipment and the present value of the lease payments. E. None of the above