Which of the following situation does not suggest that a leasing arrangement constitutes a finance lease? a. The least term is for a major part of the asset's useful life or equal to 75% or more of the economic life of the leased property. b. The present value of the minimum lease payments is substantially less than the fair value of the asset c. Ownership in the asset is transferred at the end of the lease term. d. The lease contains a bargain purchase option on purchase option at a price below fair value which is reasonably certain to bo exercised