Which one of the following statements is NOT correct? a. Leasing equipment is equivalent to selling debt and buying the equipment, and then later selling the equipment and paying off

the debt. b. Interest expense on debt used in a business is tax-deductible for the business. c. Dividends paid on equity that funds a business is tax-deductible for the business. d. Debt payments must be paid whereas dividend payments are at the discretion of managers.