Given the following data, determine the appropriate lease classification. Asset FMV and book value Lease term Asset life Guaranteed salvage value Lessee's estimated salvage value $40,000 6 years 9 years $5,000 $7,000 No Bargain Purchase Option or title transfer. Two-month renewal option exists; lessee reasonably certain to renew. Present value of lease payments 92% of Asset FMV. Lessor has foreseeable alternative use for asset. Select one: Na. Short-term lease b. Finance lease c. Operating lease