An asset costs $590,000 and will be depreciated in a straight-line manner over its three-year life. It will have no salvage value. The corporate tax rate is 35 percent, and the appropriate interest rate is 9 percent.

a.	What would the lease payment have to be to make both the lessor and lessee indifferent about the lease? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Lease payment

$

b.	Assume that the lessee pays no taxes and the lessor pays taxes. For what range of lease payments does the lease have a positive NPV for both parties? (Enter your answers from lowest to highest. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Lease payment range

$ to $