Carnival Company is considering leasing a new equipment. The lease lasts for 88 years. The lease calls for 1010 payments of $9,000$9,000 per year with the first payment occurring immediately. The equipment would cost $60,000$60,000 to buy and would be straight-line depreciated to a zero salvage value over 88 years. The actual pre-tax salvage value is $4,000$4,000. The firm can borrow at a rate of 6%6%. The corporate tax rate is 25%25%. What would the NPV of the lease relative to the purchase be?

a. $2,780.19$2,780.19.

b. $4,166.95$4,166.95.

c. $3,742.38$3,742.38.

d. $2,410.60$2,410.60.

e. $3,870.25$3,870.25.