A company can purchase some equipment for $2,000,000 or lease it for $410,000 at the beginning of each of the next 6 years. If the firms before-tax cost of debt is 7% and its marginal tax rate is 20%, what is the present value cost of leasing this equipment?

Group of answer choices

a $1,724,821

b $2,041,691

c $1,633,353

d $2,156,026