Bullwinkle Company owns equipment with a cost of $363,200 and accumulated depreciation of $52,300 that can be sold for $276,400, less a 5% sales commission. Alternatively, Bullwinkle Company can lease the equipment for three years for a total of $284,500, at the end of which there is no residual value. In addition, the repair, insurance, and property tax expense that would be incurred by Bullwinkle Company on the equipment would total $15,200 over the three year lease. a. Prepare a differential analysis on February 18, as to whether Bullwinkle Company should lease (Alternative 1) or sell (Alternative 2) the equipment. Differential Analysis Lease (Alt. 1) or Sell (Alt. 2) Equipment February 18 Differential Effect Lease Equipment Sell Equipment on Income (Alternative 1) (Alternative 2) (Alternative 2) Revenues 284,500 276,400 -8,100 Costs 15,200 Income (Loss) 269,300 b. Should Bullwinkle Company lease (Alternative 1) or sell (Alternative 2) the equipment? Lease the equipment