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D Question 14 1 pts In December 2019 Spencer Inc., a high-end women's clothing manufacturer, decides it needs 100 new large-scale sewing machines for creating

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D Question 14 1 pts In December 2019 Spencer Inc., a high-end women's clothing manufacturer, decides it needs 100 new large-scale sewing machines for creating its new fashion line. Spencer Inc is reluctant to purchase the machines due to rapidly changing technology that quickly makes such machines obsolete. Spencer Inc decides to lease the 100 machines, and signs a four-year lease on January 1, 2020. Annual lease payments of $100,000/year are due at the end of each year. The remaining useful life of sewing machines is five years at the inception date of the lease. Should this lease be classified as a finance lease or an operating lease according to the latest lease accounting standards? Finance lease Operating lease Not sure O No answer text provided

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