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Lease or Sell Kincaid Company owns equipment with a cost of $367,200 and accumulated depreciation of $55,600 that can be sold for $275,200, less a 3% sales commission. Alternatively, Kincaid Company can lease the equipment for three years for a total of $284,900, at the end of which there is no residual value. In addition, the repair, insurance, and property tax expense that would be incurred by Kincaid Company on the equipment would total $16,900 over the three year lease. a. Prepare a differential analysis on August 7 as to whether Kincaid Company should lease (Alternative 1) or sell (Alternative 2) the equipment. If required, use a minus sign to indicate a loss. Differential Analysis Lease Equipment (Alt. 1) or Sell Equipment (Alt. 2) August 7 Sell Differential Lease Effects Equipment (Alternative 1) (Alternative 2) (Alternative 2) Equipment Revenues Costs Profit (Loss) b. Should Kincaid Company lease (Alternative 1) or sell (Alternative 2) the equipment