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I'd like to point that that with Sandeep's scenarios above, even if you do go with on-prem Exchange, assuming decent credit score you can get all that and a decent server from Dell to run it all for about a $150/month lease. That depends on what all you get, of course, but I can see $150 a month for some - maybe a bit more for others and a bit less for other still.
JamesNT
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