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The Haavelmo Widget Corporation (lessee) has just signed a 60-month lease on an asset with a six-year life. The lessor will retain the title to

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The Haavelmo Widget Corporation (lessee) has just signed a 60-month lease on an asset with a six-year life. The lessor will retain the title to the property at the end of the lease, and the present value of the minimum lease payments is $470,000. The estimated fair value of the property is $600,000. Is this an operating lease

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