If a Lease Is Classified as a Capital Lease Because

Multiple Choice

If a lease is classified as a capital lease because the present value of the minimum lease payments is equal to 90% or more of the fair value of the leased property, the time period to be used by the lessee to amortize the leased property is the

A) lease term
B) expected economic life of the property
C) lease term or the expected economic life of the property, whichever is longer
D) expected economic life of the property or the lease term, whichever is shorter