3 Ibro Tinmines plc requires the use of excavation machinery. It could lease the equipment for six years from Parklead Leasing for €22,000 per year, with a balloon payment at the end of the lease contract to offset any remaining financial liability. Evaluate the lease from the perspective of the lessee and the lessor. The tax rate is 23 per cent paid one year in arrears, and the discount rate for projects of this type is 10 per cent. Depreciation is straight line and it is expected that the equipment will be scrapped after six years. (30 marks)