Calculate the NPV of an investment, considering a capital lease with following conditions:

Annual lease payments of $280,000 from year 1 to year 5

Effective annual interest rate of 6% for the borrowed money

Asset would yield the annual revenue of $350,000 for five years (from year 1 to year 5)

Asset would have operating cost of $60,000 for year 1 to 5

The asset can be depreciated based on MACRS 5-year life depreciation with the half year convention (table A-1 at IRS (Links to an external site.)Links to an external site.) over six years (from year 0 to year 5)

Salvage value of $500,000 at the end of the 5th year

Income tax 40%

Minimum ROR of 10%

Please calculate and include the lease principle and interest calculations.