$($Mod $7\mathrm{.}8,$ and $9)$

$50+2+1$

By the lessor, a lessee$-$guaranteed residual value at the beginning of a finance lease should be:

Multiple Choice

Excluded from lease payments.

Included as part of lease payments at present value.

Inclucled as part of lease payments at future value.

Inchokid as part of lease payments only to the extent that guaranteed residual value is erpected to ericeed enan