A manufacturer can lease a machine for 4 years at $2,080 per quarter, payable at the beginning of each quarter. Alternatively, they can purchase the machine for $31,000 and sell it for $3,400 in 4 years. The cost of capital is 12.6% compounded annually. What is the present value of the cost: (enter a positive value accurate to the nearest dollar) i) of the lease option? $ 26644 Incorrect ii) of the purchase option? $ Should the manufacturer purchase or lease? Purchase since Lease PV is higher than Purchase PV Purchase since Purchase PV is higher than Lease PV Purchase since Lease PV is lower