Emma, a lawyer at Leaseonic Corp., is evaluating the company's current lease agreements. Emma recently hired an intern, Michael, and assigned him the task of listing the provisions for tax guidelines related to lease contracts. Leaseonic Corporation Provisions of the Tax Guidelines Which of the following points in the document submitted by Michael are correct? Check all that apply. The equipment's residual value at the expiration of the lease should be at least one fifth of its value at the start of the lease. At the end of the lease, the remaining useful life of the equipment must be more than or equal to 1 year. The lessee or any other party has the right to purchase the equipment at the expiration at a predetermined price specified in the lease contract. The lessee has the option of buying the equipment at the expiration of the lease contract at its fair market value. The IRS puts restrictions on lease terms so that the lease transaction can allow companies to increase rapid payments that are tax deductible. If a lease purchase option conveys an improvident bargain upon the lessee, the lessee may be subject to upon the sale of the asset