Check my w The Riteway Ad Agency provides cars for its sales staff in the past, the company has always purchased its cars from a dealer and then sold the cars after three years of use. The company's present fleet of cars is three years old and will be sold very shortly. To provide a replacement fleet, the company is considering two alternatives: Purchase alternative! The company can purchase the cars, as in the past, and sell the ears after three years of use. Sen cars will be needed, which can be purchased at a discounted price of $20,000 sach. If the alternative is accepted, the following costs Vilbered on the lot as a whole mual cost of servicing, taxes, and in 1,500 tapa tirat year 12,400 thepairs, second year 14,900 Tepairs, third yes 16,900 At the end of three years, the feet could be sold for one half of the original purchase price Leane alternativet They can lease the cared three-year lo contract. The lease cont would be 64.000 per year the first payment due the end of Year 1. As part of this not the would provide all servicing and repair in the trendy all the way would be required to me 112,000 srity deposit is the boot the late period which wd be rotunded when the cened to the then the contract Ritoway Ad Agency's required rate of return is 17% Click here to view Ext 4.4 and Exhib148 2. to determine the appropriate discount factors using tables Required: 1. What is the not present value of the cash flows associated with the purchase tomative? 2. Wat is the net rent value of the cash flowsociated with the late iterativo a which toate should the company copt