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A wireless telephone system with a disposable value of $4,000 after four years can be purchased for $10,000. Alternatively, a leasing agreement is available that

A wireless telephone system with a disposable value of $4,000 after four years can be purchased for $10,000. Alternatively, a leasing agreement is available that requires an immediate payment of $2000 plus payments of $100 at the beginning of each month for four years. If money is worth 6% compounded annually, should the telephone system be leased or purchased?

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