f$.$ Explain to Grace and Samuel the guidelines of leasing and whether or not it is a smart financial move for them to consider. Would they be better off with a closed$-$end or

an open$-$end lease? From a purely financial perspective, would you recommend leasing or financing?

Financing is most likely the better alternative to leasing because: $($Select all the choices that apply.$)$

A$.$ there are no restrictions, or end of lease fees, for "wear and tear": Working as an electrician, Samuel would probably put everything in the vehicle, causing at least some

dents and dings.

B$.$ there are no modification restrictions: Again as antlectrician Samuel is likely to want to modify the truck to suit his business needs.

C$.$ there are no maintainance costs: With a lease, Samuel would need to make sure the vehicle was serviced often.

D$.$ there are no insurance requirements: Since you do not own a leased vehicle, Samuel would need to insure any vehicle he leased.

E$.$ there are no mileage restrictions: Driving for work normally puts excess miles on the vehicle, especially for an independent businessman like Samuel. For a cost$-$effective

lease, the consumer should drive less than $15,000$ miles annually.