On February 1 of the current year,Greenstein Corporation leased equipment under a six-year noncancellable lease.The estimated economic of the equipment is ten years.The fair value of the equipment is $900,000.The lease does not contain a bargain purchase option or a transfer of title.Greenstein must classify this lease as a capital lease if the present value of the minimum lease payments is at least ________.
A)$600,000
B)$675,000
C)$810,000
D)$900,000

Question

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The Answer of On February 1 of the current year,Greenstein Corporation leased equipment under a six-year noncancellable lease.The estimated economic of the equipment is ten years.The fair value of the equipment is $900,000.The lease does not contain a bargain purchase option or a transfer of title.Greenstein must classify this lease as a capital lease if the present value of the minimum lease payments is at least ________.
A)$600,000
B)$675,000
C)$810,000
D)$900,000

On February 1 of the Current Year,Greenstein Corporation Leased Equipment