A manufacturer can lease a machine for $6$ years at $$3,320$ per quarter, payable at the beginning of each quarter.

Alternatively, they can purchase the machine for $$61,000$ and sell it for $$7,400$ in $6$ years.

The cost of capital is $12\mathrm{.}1\%$ compounded annually.

What is the present value of the cost:

$($enter a positive value accurate to the nearest dollar$)$

A$)$ of the lease option? $$58504($Correct$)$

B$)$ of the purchase option? $**$PLEASE HELP GETTING THIS ANSWER $**$

C$)$ Should the manufacturer purchase or lease? PURCHASE$($CORRECT$)$