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
Answer: C
Business
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