A car dealership has a car advertised to cost $25,000. They offer you two options: (a) buy in cash, with cash back of $2,200, or (b) a lease with $500 due at signing, 48 monthly payments of $340, and a residual value of $12,000. You wish to have the car for 8 years and then will sell it later at an estimated price of $3,000. You can borrow from a local bank at an APR of 6%, compounded monthly, and you wish to analyze which of the two options is best. Organize your work clearly into parts A and B where in A you calculate the net cost of buying, and in B you calculate the cost of leasing (include the effect the $3,000 in each calculation).