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Elliot Events entered into a lease with Premier Party Rentals on January 1, 2025. Premier will lease large party tents to Elliot Events for

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Elliot Events entered into a lease with Premier Party Rentals on January 1, 2025. Premier will lease large party tents to Elliot Events for 3 years at a rental rate of $2,000 per month. In addition, Elliot can continue the lease for another two years for $200 per month. What is the term of this lease that would be used in the lease term test?

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