How can leasing allow a firm to effectively depreciate, Finance Basics

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How can leasing allow a firm to effectively depreciate

1. How can leasing allow a firm to effectively "depreciate" land?

2. What effect does leasing have on the stability of a firm's reported earnings?

3. It has been argued that leasing is almost always more expensive than borrowing and owning. Do you think this is true? Why or why not? Under what circumstances is leasing likely to be more desirable than direct ownership?

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