Emma runs a small factory that needs a vacuum oven for brazing small fittings. She can purchase the model she needs for $$360,000$ up front, or she can lease it for seven years for $$6,900$ per month. She can borrow at $9\%$ APR, compounded quarterly. Assuming that the oven will be used for seven years, should she purchase the oven or should she lease it$?$

Buy, since the present value $($PV$)$ of the lease is $$102,224$ more than the cost of the oven.

Lease, since the present value $($PV$)$ of the lease is $$100,643$ less than the cost of the oven.

Lease, since the present value $($PV$)$ of the lease is $$20,212$ less than the cost of the oven.

Buy, since the present value $($PV$)$ of the lease is $$132,108$ more than the cost of the oven.