Comey Products has decided to acquire some new equipment having a $250,000 purchase price. The equipment will last 4 years and is in the Macrs 3 -year class. (The depreciation. rates for Yeat 1 through Year 4 are equal to 0.3333,0.4445,0.1481, and 0.0741 ) The firm can borrow at a 11\% rate and pays a. 25\% federal-plus-state tax rate. Comey is considening leasing the property but wishes to know the cost of borrowing that it should use when comparing purchasing to leasing and has hired you to answer this question. What is the carrect answer to Comey's question? (Hint? Use the shortcut method to find the after-tax cost of the loan payments.) Do not round intermediate caiculations. Round your answer to the nesrest doliar. 5