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A company is deciding whether to lease or buy new equipment. The equipment can be purchased for $65,000 or leased for a 7-year period for

A company is deciding whether to lease or buy new equipment. The equipment can be purchased for $65,000 or leased for a 7-year period for $9,750 per year (due at the beginning of each year). The firm can borrow at a rate of 9%. The equipment has a CCA rate of 30%. The company's marginal tax rate is 30%. Calculate the Net Advantage of Lease (NAL).

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