Which of the following is not an advantage of leasing for the lessee?
a. The lessor must bear the risk that the equipment will be obsolete even before it is returned at the end of the lease.
b. A lease usually has no restrictive financial covenants on the lessee; the primary duty is to make the lease payments on time.
c. The lessee must dispose of the equipment at the end of the lease.
d. An operating lease can lead to an income tax deduction of the entire lease payment.