Frank Incorporated is trying to decide whether to lease or purchase a piece of equpment needed for the next 10 years. The equipenent would cost $46,000 io purchase, and maintenonce coss would be $5,700 per year. After 10 years, frank estimatet if could seil the equipcnent for $21000 if Frank leased ithe copitat of 12%, it would be better off by $13,300 if it buys the equipment. What would the approsimate annuat cost be it frank were ta lease the equyment? Note: Use the eppropriate factors from the PV tables. Multuple Choice $10,000 $12,000 $16,250 $15,000