Guilford Co. has leased property and accounted for the transaction as a capital lease. No bargain purchase option or transfer of title exists. The amount recorded initially by the lessor as a lease receivable should normally:

Select one: a. Equal the total of the minimum lease payments b. Exceed the total of the minimum lease payments c. Equal the present value of the minimum lease payments at the beginning of the lease d. Exceed the present value of the minimum lease payments at the beginning of the lease