Able Finance Corp carries on a lending business in Saint John, New Brunswick. Athos Transport has asked Able to acquire a truck trailer and then lease it to Athos for five years in return for monthly payments which will cover the full amount of the purchase price plus $10$ percent. At the end of the lease term, Athos has an option to buy the trailer for $$100.$ Assuming that Able and Athos enter into this transaction, which of the following is TRUE? The New Brunswick Personal Property Security Act

Select one:

A$.$ does not apply to this transaction because the form of the transactiun is a lease.

B$.$ applies to this transaction because, in substance, it gives Able a security interest in the trailer.

C$.$ does not apply to this transaction because, under the lease, Able will have title to the trailer, not a security interest.

D$.$ applies to this transaction because this lease is equivalent to secured bank financing.

E$.$ applies to this transaction because the lease is for a term exceeding one year.