Assume your tax rate is 40%. If you were to use this car 100% for business, rendering the lease payments tax-deductible, or alternatively, allowing you to deduct depreciation straight-line at $10,000 per year for three years, would you prefer to buy or lease the car? (Hint: Use the after-tax borrowing rate to discount the cash flows.)

The answer is a leasing advantage of $15,590.47.

How do we get this answer? please show me calculations.

Thank you