Winter Ltd. (WL) entered into a lease arrangement with Johnson Elevator Ltd. (JEL) five years ago. The lease required monthly payments for five years. At the end of the lease, WL returned the equipment. JEL immediately sold the equipment for $9,000, although it had expected to receive $12,000 on the sale. WL then had to pay JEL the difference of $3,000. To which one of the following lease conditions is the $3,000 related? Question 23 options: a) an unguaranteed residual value b) a guaranteed residual value c) a bargain purchase option d) a termination clause