Complete the following: (in $thousands) YEAR Use Excel functions and/or formulas to complete the following. 0 I. Cost of owning Equipment Purchase Il. Leasing cash flows Lease payment -200 -200 -200 -200 -200 Tax savings from lease payment A-T Savings from maintenance expense 12 12 12 12 12 Residual value -75 Net cash flow PV cost of leasing C= Cost d= CCA rate= 45% 3 marks tax rate = T . 31% mo cost of capital So PV of Salv Value PV of CCA $ 248.00 Ill. Net Advantage to Leasing (NAL) 2 marks Equipment Purchase PV of leasing cash flows PV of CCA tax shield NAL- Should the firm lease or buy? Lease / Buy because NAL >