Raymond Rayon Corporation wants to expand its manufacturing facilities. Liberty Leasing Corporation has offered Raymond Rayon the opportunity to lease a machine for \($100,000\) for five years. The machine will be fully depreciated by the straight-line method. The corporate tax rate for Raymond Rayon is 25 percent, while Liberty Leasing’s corporate tax rate is 35 percent. The appropriate before-tax interest rate is 8 percent. Assume lease payments occur at year-end. What is Raymond’s reservation price? What is Liberty’s reservation price? What is the negotiating range of the lease?