The 7.5 hours in the classroom are just the starting point. On average, teachers are at school an additional 90 minutes beyond the school day for mentoring, providing after-school help for students, attending staff meetings and collaborating with peers.
A capital lease is treated like a loan, and the asset is considered owned by the lessee. The tax advantages of operating leases are especially significant for fixed assets such as lighting that are generally depreciated over a very long term (39 years), since the entire lease payment is tax deductible.
The non-tax lease passes the tax benefits of ownership to the lessee. While the Lessor is legally the owner, the lessee may claim the depreciation and interest deductions. At the end of the lease term, the IRS believes that the Lessee would be compelled to exercise their purchase option.