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5. Prior to the release of Topic 842, one reason to lease rather than buy was to take advantage of off-balance sheet financing. Now that
5. Prior to the release of Topic 842, one reason to lease rather than buy was to take advantage of "off-balance sheet financing." Now that GAAP requires lessees to report assets and liabilities for all but very short-term leases, is there still an advantage to long-term leases for the Newton's? Identify and discuss any advantages or disadvantages to continuing to lease. What
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