approp cash flows, at what lease payment wold buying? C. Assuming that the alle NI CASE Lewis Securities Inc. has decided to acquire a new market data and quotation s its Richmond home office. The system receives current market prices and other inf tion from several online data services and then either displays the information on or stores it for later retrieval by the firm's brokers. T call up current quotes on terminals in the lobby system for orma he system also permits customers to The equipment costs $1,000,000 and, if it were purchased, Lewis could obtain a term loan for the full purchase price at a 10% interest rate. Although the equipment has a 6-year useful life, it is classified as a special-purpose computer and therefore falls into the MACRS 3-year class. If the system were purchased, a 4-year maintenance contract could be obtained at a cost of $20,000 per year, payable at the beginning of each year. The equipment would be sold after 4 years, and the best estimate of its residual value is $20,000 However, because real-time display system technology is changing rapidy tho actual residual value is uncertain. As an alternative to the borrow-and-buy plan, the equipment man informed Lewis that Consolidated Leasing would be willing to write a 4-yearb lease on the equipment, including maintenance, for payments of $2 ginning of each year. Lewis's marginal federal-plus-state tax rate is s been asked to analyze the lease-versus-purchase decision and, in the following questions 40%. You have e process, to