Under ASPE, the lessee should classify a lease as a capital lease if the lessor will recover 85% or more of the leased asset's fair value as well as realizing a return on the investment. T OR F

Under IFRS, the interest rate used for the present value calculation is the rate implicit in the lease if determinable, otherwise it is to be the lessee's incremental borrowing rate. T OR F

For interest rates, ASPE indicates the lower of either the lessor's implicit rate (if known) or the lessee's incremental borrowing rate should be used. T OR F