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A young graduate is trying to decide whether to lease or buy a car for the next three years. The cash flows for each choice

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A young graduate is trying to decide whether to lease or buy a car for the next three years. The cash flows for each choice are shown below. (We will ignore gas, insurance, and tag fees.) YEAR 0 1 2 3 LEASE -$4,055.00 $3 500 00 A -$3,500.00 -$3,500.00 PURCHASE $36,097.00 0 0 $26,849,00 The graduate has a personal discount rate of 6.00% At what discount rate would the graduate be indifferent between the two choices? Submit Answer format: Percentage Round to: 2 decimal places (Examole 9.24% % sign regured ww accept decimal formal rounded to 4 decimal places (ex: 0.0924)

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