Elvira manages a fitness studio. All the stationary bicycles for the spinning room need to be replaced at a cost of $6600. Elvira is considering two options: Use a line of credit with an interest rate of 10.4%, compounded monthly. Lease the equipment for 2 years, for $500 down and $250 each month. Elvira plans to pay off the loan in 2 years. What is the cost of buying with a line of credit? What is the cost of leasing for 2 years? The bikes depreciate by 20% per year. What is the value of the bikes after 2 years? Should Elvira buy or lease? Explain.