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7. A car with manufacturer's list Price of $35000 is lest on December 1,2010 by company for $ 1020 per month payable on the first

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7. A car with manufacturer's list Price of $35000 is lest on December 1,2010 by company for $ 1020 per month payable on the first day of each month. The term of lease is 24 months and refundable deposit is $9000 is made at the inception of the lease. In addition, the employee who drives the vehicle pays $150 per month. disregarding GST and PST, determine the maximum deductible lease for 2010 and 2011. (6 marks)

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