Leasing has become the number one method of external financing by U.S. companies. Reasons include each of the following except: Select one: a. From the lessor's perspective, point-of-sale advantage in finding leasing customers for captive leasing companies b. From the lessee's perspective, extended use of the asset c. From the lessee's perspective, protection against obsolescence d. From the lessee's perspective, lower upfront cash needed to use an asset e. From the lessor's perspective, potential high residual value at the end of the lease term At the beginning of a finance lease, a guaranteed residual value should be: Select one: a. Excluded from the calculation of lease payments. b. Included as part of the calculation of lease payments at present value. c. Included as part of the calculation of lease payments at future value. d. Included as part of lease payments only to the extent that guaranteed residual value is expected to exceed estimated residual value. The guaranteed residual value is a promise made by the lessee to return a certain value to the lessor which the lessor desires to recover its investment in the asset. If a potential future payment is expected (that is, the expected residual value is less than the guaranteed residual value), it must be included in the calculation of the present value of the lessee's future lease payments. The guidelines for accounting for a guaranteed residual value are as follows: - If it is probable that the expected residual value is equal to or greater than the guaranteed residual value, the lessee should not include the guaranteed residual value in the computation of the lease liability. - If it is probable that the expected residual value is less than the guaranteed residual value, the difference between the expected and guaranteed residual values should be included in computation of the lease liability