14) Julian is starting school in September, and needs a car for the next six years. She is currently deciding to either purchase a used car for $32,000 or lease. If she decides to buy a car, she would incur the following costs per year: Maintenance: $2,000Insurance: $1,800 Gas: $3,000 On the other hand, she can lease the car under a six-year agreement at a lease cost of $8,000 per year. As part of the lease, the dealership would provide all the required maintenance. Juliana would still be responsible for the cost of gas and insurance. Juliana has a required rate of return of 12%. The purchased car will have $6,000 residual value. Using the NPV method, which alternative should Toby choose? NPV for Purchase: NPV of Lease: 14) Julian is starting school in September, and needs a car for the next six years. She is currently deciding to either purchase a used car for $32,000 or lease. If she decides to buy a car, she would incur the following costs per year: Maintenance: $2,000Insurance: $1,800 Gas: $3,000 On the other hand, she can lease the car under a six-year agreement at a lease cost of $8,000 per year. As part of the lease, the dealership would provide all the required maintenance. Juliana would still be responsible for the cost of gas and insurance. Juliana has a required rate of return of 12%. The purchased car will have $6,000 residual value. Using the NPV method, which alternative should Toby choose? NPV for Purchase: NPV of Lease