P15-5A Presented below are three different lease transactions that occurred for Ruggiero. Inc. in 2017. Assume that all lease contracts start on January 1, 2017. In no case does Rug- - giero receive title to the properties leased during or at the end of the lease term. Lessor Judson Delive Gunselman Auto Automobile 3,700 2 years 5 years 11,000 Hester Co Type of property Yearly rental Lease term Estimated economic life Fair value of lease asset Present value of the lease Computer 5,000 6 years 7 years $27,500 Delivery equipment 4,200 4 years 7 years $19,000 rental payments Bargain purchase option $26,000 None $13,000 None 6,400 None Instructions (a) Which of the leases are operating leases and which are capital leases? Explain