Peter owns Detail Masters Inc., an auto paint and body shop. To obtain funds to build an addition to the shop, he wants to arrange a sale-leaseback of shop equipment with another local business. Should the validity of this transaction come into question, which of the following questions would a court consider to determine if there is a lease?

I. Are rental payments in excess of current fair rental value?

II. Will the leasor acquire title following payment of the required amount of rentals?

III. Is accelerated depreciation being taken on the leased property?

	a.	I only
	b.	II only
	c.	III only
	d.	II and III