Cost of Borrowingt Tax Oriented Lease Comey Prodocts has decided to acquire some new equipment having a $170,000 purchase price. The equipment will last 4 years and is in the MAcRS 3 -year chass. (The depreciation rates for Year 3 through Year 4 are equal to 0.3333,0.4445,0.1481, and 0.0741 .1 ) The firm can borrow at a 7% rate and pays a 25\%y federal-plus-state tax rate. Comey is considering 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 correct answer to comey's question? (Hint:- Use the shortcut mechod to find the after-tax cost of the loan payments.) Do not round intermediate calculations. Round your answer to the nearest dollar