can you show work for #2?

Your firm needs to invest in a new delivery truck. The life expectancy of the delivery truck is five years. You can purchase a new delivery truck for an upfront cost of $200,000, or you can lease a truck from the manufacturer for five years for a monthly lease payment of $4000 (paid at the end of each month). Your firm can borrow at 6% APR with quarterly compounding. 1) The effective annual rate on your firm's borrowings is closest to: A) 6.00% (B) 6.14% C) 6.25% D) 6.30% 2) Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an annuity that pays $250 every three months for the next five years is closest to: A) $2280 B) $3983 C) $3990 D) $3995