Question $22(1$ point$)$

Which one of the following statements about the implicit lease interest rate is true?

a$)$ This is the discount rate at which the discounted value of the lease payments plus the guaranteed residual value is equal to the fair value of the leased asset at the inception of the lease.

b$)$ This is the discount rate at which the discounted value of the lease payments plus any guaranteed or unguaranteed residual value is equal to the fair value of the leased asset at the inception of the lease.

c$)$ This is the discount rate at which the discounted value of all the lease payments to be made by the lessee is equal to the fair value of the leased asset at the inception of the lease.

d$)$ This is the discount rate at which the resulting discounted value of the lease payments, plus any guaranteed or unguaranteed residual value, plus a profit amount is equal to the fair value of the leased asset at the inception of the lease.