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

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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