Determine whether it is better to lease or purchase the following laboratory equipment and what is the difference in cost? 6. Purchase: Borrow $1.5 million at 10% Straight line depreciation over 3 years Trade in value of $150,000 Maintenance cost of $14,000 per year . . Lease .Lease payments of $55,000 per month 36 month lease term. Includes maintenance. Should the hospital lease or buy? What is the difference in PV cost? Please show your work in clear orderly manner to receive full credit