Question: right answer please Information has been gathered for three leases that will be accounted for through straight-line depreciation: Required: For purchase option included in lease

right answer please
Information has been gathered for three leases that will be accounted for through straight-line depreciation: Required: For purchase option included in lease contract and lease 2, exercise of option reasonably certain. For lease 3, exercise of option not reasonably certain. For each leased asset, choose a depreciation period. X Answer is complete but not entirely correct. Lease 1 Lease 2 Lease 3 Initial lease term 6 years 6 years 5 years Renewal option n/a 3 years 4 years Economic life of the leased asset 7 years 10 years 10 years Yes No Purchase option included in lease contract Depreciation term 6 x No 10 X years years 20 X years
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