Apollonia Ltd operates 30 dental practices in London. You are a financial manager in Apollonia's head office. Your primary responsibilities are associated with management accounting. You report to the senior financial manager, who reports directly to the finance director.

There has been lots of discussion as to whether buying or leasing new equipment (dentist chairs with lasered-powered drills attached) was preferable. You receive the following email from the senior financial manager:

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From: To: Senior Financial Manager Financial Manager Date: Today Subject: Acquisition of assets I have forwarded to you an email from Simon with regard to options for refreshing the assets at our practices. I've prepared the financial analysis (attached, you don't need to check the calculations), with the figures discounted at an appropriate cost, but would like you to put together some explanatory notes for me that I can take to the board. Please ensure that you cover an explanation of the figures used in the analysis, including explanations as to what has been included, why it is included and a recommendation about which option should be selected.