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Each of the four independent situations below describes a lease requiring annual lease payments of $30,000. For each situation, determine the appropriate lease classification by

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Each of the four independent situations below describes a lease requiring annual lease payments of $30,000. For each situation, determine the appropriate lease classification by the lessee and indicate why. (Ques 1) Situation 1 (Ques 2) Situation 2 (Ques 3) Situation 3 (Ques 4) Situation 4

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