ele Corp. is a professional leasing company. The leasing manager has to evaluate some lease agreements under the following conditions:

$$ The company$$s marginal federal$-$plus$-$state income tax rate is $30\%.$

$$ The company has alternative investment options of similar risk that yield $6\mathrm{.}00\%.$

Assuming all other factors and values are constant among these leases, from the lessor$$s perspective, which of the following is the best lease?

A lease that has an IRR of $3\mathrm{.}40\%.$

A lease that has an MIRR of $4\mathrm{.}80\%.$

A lease that has an NPV of $$$$120,000.$

A lease that generates an after$-$tax rate of return of $3\mathrm{.}10\%.$

Based on your understanding of lease contracts, which type of lease cash flow has the most uncertainty?

Lease payments

Tax savings

Loan payments