Under U.S. GAAP, which of the following items would require a lessee to classify a lease of equipment as a capital lease?
A. The present value of the contractual minimum lease payments is 75% of the fair value of the leased property.
B. The lease term is 90% of the estimated economic life of the lease property.
C. There is no transfer of ownership to the lessee at the end of the lease term.
D. The lease does not contain a bargain purchase option.