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The Word ____ feature is set up to automatically correct most typos and misspelled words.
Bargain Purchase Option
A lease clause allowing the lessee to purchase the leased asset at a price significantly lower than its expected fair market value at the end of the lease term.
Leased Asset's Useful Life
The expected period over which a leased asset is anticipated to be used by the lessee, often corresponding to the lease term unless a shorter period is more representative.
Minimum Lease Payments
The lowest amount that a lessee is expected to pay over the lease term, including both principal and interest components.
Direct Financing Lease
A type of lease arrangement where the lessor purchases an asset for the lessee and rents it out, effectively acting as a financing tool.
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