A firm can lease a truck for $5$ years at a cost of $$49,000$ annually. It can instead buy a truck at a cost of $$99,000,$ with annual maintenance expenses of $$29,000.$ The truck will be sold at the end of $5$ years for $$39,000.$

a$.$ What is the equivalent annual cost of buying and maintaining the truck if the discount rate is $12\%?$

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Equivalent annual cost

b$.$ Which is the better option?

Buy

Lease