Each of the four independent situations below describes a lease requiring annual lease payments of $30,000. Required: For each situation, determine the appropriate lease classification by the lessee and indicate why. Round your answers to the nearest whole dollar amounts.

Question

Each of the four independent situations below describes a lease requiring annual lease payments of $30,000.  Required: For each situation, determine the appropriate lease classification by the lessee and indicate why. Round your answers to the nearest whole dollar amounts.

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The Answer of Each of the four independent situations below describes a lease requiring annual lease payments of $30,000.  Required: For each situation, determine the appropriate lease classification by the lessee and indicate why. Round your answers to the nearest whole dollar amounts.

Each of the Four Independent Situations Below Describes a Lease