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,If a firm owns an asset, it might be able to deduct depreciation expenses. Taking it a step further, if a firm leases an asset under an operating lease, what expenses, if any, can it deduct?,,a-A firm that leases an asset can still deduct depreciation expenses with regard to the asset.,b-A firm that leases an asset can deduct the fair market value of the asset.,c-A firm that leases an asset can deduct all costs associated with the asset except the lease payments.,d-A firm that leases an asset can deduct the lease payments as ordinary and necessary business expenses. ,

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