Use the Following Information to Answer Questions
Jacquin Co -The Lease Should Be Classified by Jacquin Co

question 52

Multiple Choice

Use the following information to answer questions
Jacquin Co.leased an asset under the following terms: $\begin{array}{ll}\text { Annual lease payments } & \$ 7,500 \\\text { Asset's estimated useful life } & 8 \text { years } \\\text { Bargain purchase option } & \text { none } \\\text { Asset's fair market value } & \$ 65,000 \\\text { Transfer of title at end of lease } & \text { none } \\\text { Lease term } & 4 \text { years } \\\text { Present value of lease payments } & \$ 35,500\end{array}$
-The lease should be classified by Jacquin Co.as an) :

• A)operating lease.
• B)commercial lease.
• C)leveraged lease.
• D)finance lease.

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