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Which of the following is a criterion for a lease to be classified as a finance lease in the books of a lessee? The lease

image text in transcribed Which of the following is a criterion for a lease to be classified as a finance lease in the books of a lessee? The lease contains a bargain purchase option. The lease term is equal to 65% or more of the estimated useful life of the leased property. The present value of the minimum lease payments is 70% or more of the fair value of the leased property. The lease does not transfer ownership of the property to the lessee

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