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A firm is considering purchasing or leasing a luxury automobile for the CEO. The vehicle is expected to last three years. You can buy the

A firm is considering purchasing or leasing a luxury automobile for the CEO. The vehicle is expected to last three years. You can buy the car for S65,000 up front, or you can lease it for $1.800 per month for 36 months. The firm can borrow at an interest rate of 8% APR with quarterly compounding. Should you purchase the system outright or pay $1,800 per month

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