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What are the kinds of leases?

April 26, 2017leases

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What are the kinds of leases?

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There are two types of leases: • Fair Market Value Leasea rental of equipment or payment to use the equipment; at the end of the lease, you may purchase the equipment for its “Fair Market Value” or return it to the Lessor. • A Capital Leaseworks like a loan with a regular pattern of payments; at the end of the lease, the school or department owns the leased item for the additional cost of one dollar ($1).