A company can purchase some equipment for $2,000,000 or lease it for $410,000 at the beginnin of each of the next 6 years. If the firm's before-tax cost of debt is 5% and its marginal tax rate is 25%, what is the present value cost of leasing this equipment? $1,686,103 $1,625,160 $2,248,137 $1,755,954