5. A sheltered workshop requires a lift truck to handle pallets for a new contract. A lift truck can be purchased for $17,000. Annual insurance costs are 3% of the purchased price, payable at the first of each year. An equivalent truck can be rented for $667 per month, payable at the end of each month. Operating costs are the same for both alternatives. What minimum number of months must a purchased truck being used on the contract to make purchasing more attractive than leasing? The nominal interest is 12% compounded monthly. Assume that the purchased truck has no salvage value at any time