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Finance Lease: Net Advantage to Leasing Dunbar Corporation can purchase an asset for $ 3 1 , 0 0 0 ; the asset will be

Finance Lease: Net Advantage to Leasing
Dunbar Corporation can purchase an asset for $31,000; the asset will be worthless after 13 years. Alternatively, it could lease the asset for 13 years with an annual lease payment of $3,202 paid at the end of each year. The firms cost of debt is 6%. 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.

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