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Chloe Co,leased non specialized equipment to Ace Corporation for an eight-year period, at which time possession of the equipment will revent back to Chlor. The

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Chloe Co,leased non specialized equipment to Ace Corporation for an eight-year period, at which time possession of the equipment will revent back to Chlor. The equipment cou Cher 515 million and bus an expected we fe of 12 years. Ils normal sales price is $20 million. The present value of the lease payme for both the lessor and lesse is $18.4 million. The first payment was made the beginning of the lease. How should Chloe classify this lease? Finance le Sales-type lease without selling profit Operating lease Sales-type lease with selling profit

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