A local school can purchase gym equipment for $$17,000$ or lease some equipment for five years. The lease has a front$-$end delivery and setup charge of $$2,000$ and regular payments of $$1500$ at the beginning of every quarter $($including the first quarter$).$ The equipment is expected to have $$500$ scrap value. Should the school lease or buy the equipment if it can borrow funds at $3\mathrm{.}2\%$ compounded annually and what is the current economic value of the savings with the lower$-$cost option?

Multiple Choice

Leasing can save $$15,293$

Leasing can save $$14,851$

Leasing can save $$13,293$

Purchasing can save $$15,231$

Purchasing can save $$13,293$