(a) Classify the following into either operating or finance lease: (i) Lessee has option to purchase the asset at lower than fair value, at the end of lease term; (ii) Economic life of the asset is 7 years, lease term is 6 years, but asset is not acquired at the end of the lease term; (iii) Economic life of the asset is 6 years, lease term is 2 years, but the asset is of special nature and has been procured only for use of the lessee; (iv) Present value (PV) of Minimum lease payment (MLP) = "X". Fair value of the asset is "Y