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Firm needs $40,000. Useful life of machine is 5 years . can lease machine for 10,000 per year at interest rate of 7.8% compounded annually

Firm needs $40,000. Useful life of machine is 5 years . can lease machine for 10,000 per year at interest rate of 7.8% compounded annually or borrow 40,000 at interest rate of 7.8% compounded annually. Which is cheaper

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