1.Calculate the net present value of leasing the equipment (also known as the net advantage of leasing) from the Hamlin brothers point of view. Do you recommend that Hamlin purchase or lease the equipment? 2. What lease payment would make Hamlin in different between leasing and purchasing? (Hint: you need to set the NPV of leasing calculated in part 1 equal to zero by changing lease payments.) 3. Skip Hamlin recognizes that the analysis is influenced by the selection of the uncertain salvage value of the duplicator in year 4. The equipment could be worth the values below. What is the highest, lowest, and expected NPV of leasing using these data? What is the effect of salvage value on the NPV of the lease? How does this information affect your recommendation?