A company wants to purchase a new network file server for its wide-area computer network. The server costs $75,000 and will be completely obsolete in three years and worthless. If the company purchases the server, it can borrow the money at 10 percent and the server will be depreciated straight line to zero over three years. If the company leases the equipment they will make payments of $27,000 per year, payable at the end of each of the next three years. The companys tax rate is 34 percent.

1. What is the NPV of leasing? The answer is -$47,109.20

2. What is the NPV of owning? The answer is -$52,529.28

3. What is the maximum lease payment that the company would be willing to make?

We were given the correct answers, I just don't know the steps taken to get to these answers. Solve in detail please.