Describe the four basic steps involved in the lease-versus-purchase decision process. How are capital budgeting methods applied

Question:

Describe the four basic steps involved in the lease-versus-purchase decision process. How are methods applied in this process?

Capital Budgeting
Capital budgeting is a practice or method of analyzing investment decisions in capital expenditure, which is incurred at a point of time but benefits are yielded in future usually after one year or more, and incurred to obtain or improve the...