Contact an automobile dealership and find outthe full out-of-pocket cost of purchasing a specific model of car if you were to pay cash for it.Also find out the details of the costs that are associated withleasing the same model car. Answer the following questions.

(a) What terms and conditions are associated with the lease?In other words, specify the lease term, residual values, andwhether they are guaranteed by the lessee or not, the lessor's implicit interest rate, any purchase options, and so on.
(b) What cash flows are associated with the lease?
(c) Which do you think is the better deal: purchase outrightor lease? Briefly explain.