When accounting for a capital lease,the lessee records the leased asset at the present value of the minimum lease payments or the asset's fair value,whichever is lower.

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This is true as per the accounting standard for leases (ASC 842). The leased asset is recorded at the lower of the present value of minimum lease payments or the asset's fair value. This is done to ensure that the asset is recorded at its true economic value and not at an inflated value based on the lease payments.

When Accounting for a Capital Lease,the Lessee Records the Leased