What term is used to describe the right of the lessee to purchase the underlying asset when the option becomes exercisable at a price well below the estimated fair value at that time.

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The term used to describe the right of the lessee to purchase the underlying asset when the option becomes exercisable at a price well below the estimated fair value at that time is a bargain purchase option. This option provides significant financial incentive for the lessee to exercise the purchase option and is therefore a common feature of lease agreements.

What Term Is Used to Describe the Right of the Lessee