Your firm is considering leasing a $51,000 copier. The copier has an estimated economic life of eight years. Suppose the appropriate discount rate is 8.6% APR with monthly compounding Classify each lease below as a capital lease or operating lease, and explain why: a. A four-year fair market value lease with payments of $1,145 per month b. A six-year fair market value lease with payments of $795 per month c. A five-year fair market value lease with payments of $930 per month. d. A five-year fair market value lease with payments of $1,010 per month and an option to cancel after three years with a $8,700 cancellation penalty a. A four-year fair market value lease with payments of $1,145 per month The present value of the lease payments is $. (Round to the nearest dollar.) (Select from the drop-down menus.) This is | of the purchase price. Because it 90% of the purchase price, this is b. A six-year fair market value lease with payments of $795 per month. (Select from the drop-down menus.) The lease term is or more of the economic life of the asset, and so this is a c. A five-year fair market value lease with payments of $930 per month. The present value of the lease payments is $. (Round to the nearest dollar.) (Select from the drop-down menus.) This is | of the purchase price. Because it 90% of the purchase price, and the term is less than years, and it is a fair market value lease, this is d. A five-year fair market value lease with payments of $1,010 per month and an option to cancel after three years with a $8,700 cancellation penalty The present value of the lease payments is $. (Round to the nearest dollar.)