C-6. James needs a new car for his job. But, after 3 years he will be in a supervisor position and he will be no longer on the road for job duties. The company reimburses 55 cents/mile driven. James will be able to sell for $7,500 after 3 years. He has three options. Which will be best for him? interest rate of 12%

A. Pay cash $26,000 price of the car

B. Lease the car for $700 /month, for 3 years, payable at the end of the month. After 3 years, return the car.

C. Lease the car with an option to buy at the end of a 3-year lease. The Monthly will be $720 for 36 months and he could buy the car for $7000 at the end of the lease period.