Which of the following is not a condition which would require the recording of a lease contract as a capital lease? Where could I find the answer or where did u get it from Thanks! The present value of the lease payments equals or exceeds 90% of the fair market value of the leased property. The lease transfers ownership of the property to the lessee. The lease contains a bargain purchase option. The lease term is less than 75% of the economic life of the leased property