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Different companies or individuals offer different terms for lease contracts. An example of one such lease contract follows. Hewlett-Packard (HP) offers a lease program for

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Different companies or individuals offer different terms for lease contracts. An example of one such lease contract follows. Hewlett-Packard (HP) offers a lease program for its laser printers and PCs. The lease provides a 36-month contract with a $0 down payment at $279 per month for the laser printer. The lease payments fully amortize the printer's cost, and the lease covers maintenance costs. It also contains a cancellation clause if the lessee decides to terminate the contract. Identify the type of lease described in the preceding example. Combination lease Synthetic lease

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