Multiple Choice
Jacob has taken an SUV on lease from Free Cruisers Inc. for a period of 4 years. Jacob does not need to pay any extra amount when he turns in the vehicle because he didn't exceed the mileage specified in the lease and the SUV is not damaged. He has a:
A) residual lease.
B) closed-end lease.
C) purchase option lease.
D) right-to-early-termination lease.
E) reassignment option lease.
Correct Answer:
Verified
Correct Answer:
Verified
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