At the inception of the lease contract, the lease term is determined to be equivalent to 55% of the economic life of the leased property but the lease contract contains a bargain purchase option. The...

At the inception of the lease contract, the lease term is determined to be equivalent to 55% of the economic life of the leased property but the lease contract contains a bargain purchase option. The lessee should record the lease as

Neither asset nor liablity

Asset but not liaility