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Question 13 (2.5 points) A company is deciding whether to lease or buy new equipment. The equipment can be purchased for $60,000 or leased for a 6-year period for $11,500 per year (due at the beginning of each year). The firm can borrow at an after tax rate of 11%. If purchased, the company will incur insurance and maintenance costs of $500 per year. The equipment has a CCA rate of 21%. Salvage value in 6 years is expected to be $5,000. The company's marginal tax rate is 34%. Calculate the Net Advantage of Lease (NAL). Round the the Net Advantage of Lease to 2 decimals (e.g 22.05), and the unit is $. Your Answer: Answer units Question 13 (2.5 points) A company is deciding whether to lease or buy new equipment. The equipment can be purchased for $60,000 or leased for a 6-year period for $11,500 per year (due at the beginning of each year). The firm can borrow at an after tax rate of 11%. If purchased, the company will incur insurance and maintenance costs of $500 per year. The equipment has a CCA rate of 21%. Salvage value in 6 years is expected to be $5,000. The company's marginal tax rate is 34%. Calculate the Net Advantage of Lease (NAL). Round the the Net Advantage of Lease to 2 decimals (e.g 22.05), and the unit is $. Your Answer: Answer units

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