As the manager of a department in a local municipality, you must decide whether to purchase a piece of very expensive but necessary printing equipment or to acquire it by using an operating lease. A capital budgeting analysis showed that it is more profitable to buy than to lease. However, the purchase would require issuance of some bonds. Respond to the following in your discussion post:

• What are the advantages and disadvantages of both options?
• What reasons would lead you to lease the equipment instead of purchasing it?
• Which option would you choose, and why?