1. Lu, a physiotherapist works 4-month contracts in communities in southern Yukon. He has two options for housing: -He can rent a room with a kitchenette at a hotel for $75 per day, which includes cleaning service and utilities. -He can take a 4-month lease of a furnished apartment for $1600 per month. This requires the first and last month's rent up front, along with a refundable damage deposit of $1600. As well, Lu would need to pay for utilities, at about $125 each month.

a) Analyze the costs and benefits of leasing versus renting.

b) Which option would you recommend? Explain.