After deciding to buy a new car, you can either lease the car or purchase it on a threeyear loan. The car you wish to buy costs $$35,000.$ The dealer has a special leasing arrangement where you pay $$99$ today and $$499$ per month for the next three years. If you purchase the car, you will pay it off in monthly payments over the next three years at a $6$ percent APR. You believe you will be able to sell the car for $$23,000$ in three years.

What break$-$even resale price in three years would make you indifferent between buying and leasing? $($Do not round intermediate calculations and round your final answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Break$-$even sale price

What is the present value of purchasing the car? $($Do not round intermediate calculations and round your final answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Present value

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