A farmer is considering the option to lease a new tractor. Inflation is assumed to be zero. Assume that the lease payment is constant through the lease agreement. Assume that the lease payments would be made at the beginning of the year and the lease ends at the end of the 10th year. The lessor will pay for repairs and maintenance. The operating expenses for this tractor will be $7,500 with a marginal tax rate of 20% and an after tax discount rate of 8.5%. (i) Calculate the net present value of the lease investment. a. -$42,714 c. -$39,649 Enter Response Here: b. -$6,000 d. None of the answers are correct (ii) Calculate the annuity equivalent of this lease arrangement. a. -$7,555 c. -$3,973 Enter Response Here: b. -$6,510 d. None of the answers are correct