Consider the problem of whether or not to buy or lease a new piece of equipment. You know you only need it for 5 years, and you can purchase it or lease it. The lease requires a down-payment of $2,000 upon signing the lease and then a monthly payment of $560 due at the end of each month for the next 5 years. At the end of the lease the equipment goes back to the dealer. If you purchase the equipment you buy it for $35,000 in cash, and at the end of the 5 years you will sell the equipment for $5,000. Assume the monthly interest rate is 0.5%. Calculate the present discounted value (cost) of your options of leasing or buying this piece of equipment. Which option should you take