Final answer:
The element included in the minimum lease payment is the bargain purchase option, not maintenance costs, insurance, or property taxes, as these are executory costs.
Step-by-step explanation:
The question is focused on identifying which elements are included in the minimum lease payment for a lease agreement. Among the options provided, the item that is included in the minimum lease payments is the bargain purchase option. This is the price that a lessee can pay to purchase the leased asset at the end of the lease term, which is ordinarily significantly lower than the expected fair value of the asset at the date the option becomes exercisable. Maintenance costs, insurance, and property taxes, while potentially part of the overall cost of leasing, are not typically included in minimum lease payments as they are considered executory costs which are expenses aside from the lease itself.