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On March 1 of the current year, Hill Corporation leased sounds equipment from McEntire Company. The equipment has a life of 8 years. There is
On March 1 of the current year, Hill Corporation leased sounds equipment from McEntire Company. The equipment has a life of 8 years. There is no bargain purchase option or passage of title. For the lease to be considered a capital lease, it must have a term of at least _____.
A) 5 years B) 6 years C)8 years D)7 years
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