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Dunbar Corporation can purchase an asset for $31,000; the asset will be worthless after 15 years. Alternatively, it could lease the asset for 15 years

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Dunbar Corporation can purchase an asset for $31,000; the asset will be worthless after 15 years. Alternatively, it could lease the asset for 15 years with an annual lease payment of $3,004 paid at the end of each year. The firm's cost of debt is 7%. The IRS classifies the lease as a non-tax-oriented lease. What is the net advantage to leasing? Enter your answer as a positive value. Do not round intermediate calculations, Round your answer to the nearest cent. s

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