A company has spent $$60,000$ on car rentals for two vehicles in the past two years. Themanager is trying to determine if the company should continue to rent cars or if it shouldbuy or lease the two cars instead for two more years. Determine which situation $($buy$,$ leaseor continue to rent cars at the same rate$)$ is most cost effective for the company. $(5$ marks$)$a$.$ A new car costs $$31,000$ and requires a $10\%$ down payment. The remainder can befinanced at $4\mathrm{.}6\%,$ compounded monthly for $2$ years. Assume each car is sold at theend of the two$-$year period for its depreciated value $(40\%$ annual depreciation$).$b$.$ Leasing a car for two years requires a monthly payment of $$900$ and a downpayment of $$3,000$