Nanotech Inc. leased a new machine having an expected useful life of $20$ years from Union Co$.$ Terms of the

noncancelable $15-$year lease were that Nanotech would gain title to the property upon payment of a sum equal to

the fair market value of the machine at the termination of the lease. Nanotech accounted for the lease as a capital

lease and recorded an asset and a liability in the rinancial records. The asset recorded under this lease should

properly be amortized over

a$.5$ years $($the period of actual ownership$).$

b$.15$ years $(75$ percent of the $20-$year asset life$).$

c$.20$ years $($the total asset life$).$

d$.15$ years $($the term of the lease$).$