A company can purchase some equipment for $700,000 or lease it for $125,000 at the beginning of each of the next 5 years. If the equipment is purchased, a maintenance contract will be purchased. The maintenance contract will cost $25,000 a year at the beginning of each year If the firm's beforetax cost of debt is 10% and its marginal tax rate is 25%, what is the present value cost of the aftertax maintenance contract? $48,930 $108,733 $78,185 $81,550