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Which of the following is a correct statement of one of the classification tests? The lease payments (excluding executory costs) equal or exceed 90% of

Which of the following is a correct statement of one of the classification tests?

The lease payments (excluding executory costs) equal or exceed 90% of the fair value of the leased property.

The lease term is equal to or more than 75% of the estimated economic life of the leased property.

The lease transfers ownership of the property to the lessor.

The lease contains a purchase option.

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