Which of the following conditions will NOT cause a lease to be categorized as a capital lease? Multiple Choice It extends for only 60 percent of the asset's life It transfers ownership to the lessee at the end of the lease term It seems likely that ownership will be transferred to the lessee at the end of the lease term because of a "bargain purchase" option The present value of the contractual lease payments equals or exceeds 90 percent of the fair market value of the asset at the time the lease is signed