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Question 8 (of 8) Save & Exit Submit 8. value: 1.25 points Problem 5-32 Annuity Due (L03) Your landscaping company can lease a truck for $8,300 a year (paid at year-end) for 6 years. It can instead buy the truck for $40,000. The truck will be valueless after 6 years. The interest rate your company can earn on its funds is 7%. a. What is the cost of leasing? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value of lease $ b. Is it cheaper to buy or lease? Buy Lease C-1. What if the lease payments are an annuity due, so the first payment comes immediately? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value of lease C-2. Is it cheaper to buy or lease? Buy O Lease