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One of the five criteria for a finance lease specifies that the present value of the lease payments be equal to or greater than: Multiple

One of the five criteria for a finance lease specifies that the present value of the lease payments be equal to or greater than:

Multiple Choice

A. substantially all of the cost of the asset.

B. the major part of the fair value of the asset.

C. substantially all of the fair value of the asset.

D. the major part of the cost of the asset.

I chose Option C and it was incorrect. Please help.

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