1. An organization has a license to dig for gold in a locale of New Mexico for a very long time. The board is attempting to conclude how to finance the hardware. One alternative is to lease it for $130 per month over the three years. The arrangement incorporates the fuel expected to work the hardware. The other choice is to purchase the hardware now and. it following three years. The apparatus costs $11,500. There is an initial instalment of $2,500, so that the funds to be paid will be $11,500 $2,500 = $9,000. This equilibrium will be covered by a 5(1/2)% credit to be paid in equivalent yearly portions more than 15 years. The yearly fuel costs for the gear would be $375. In the event that the base alluring rate of return is 5%, at what resale esteem (end of third year) will the two alternatives be similarly conservative? Make all estimations to the closest dollar. 20 marks