How to turn down final offer from internship?

Just got a FT offer from MBB after partaking in an internship with a T2 firm last summer. I am looking to sign with the MBB firm but am wondering if you all have any good tips for turning down the return offer from my old firm? Is it acceptable to simply email my old recruiter? Is that too informal? How much info should I give them? If I were to call them, what types of questions do you think I should anticipate? Would appreciate the help in not sounding like a bozo!

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