Greenwall Co$.$ is considering whether to lease or buy an asset. The financial

controller has been researching the costs involved with borrowing from the bank

to buy the asset outright. The bank will charge interest at $7\mathrm{.}15\%$ per annum. The

asset will cost $$500,000$ and will attract tax allowable depreciation on a straightline basis over five years, which is the useful economic life of the asset. There is

no residual value. Greenwall Co is subject to corporation tax at $30\%,$ payable in

the year in which the profit is earned. What is the NPV of buying option? Note that

you must use post$-$tax cost of debt as your discount rate for calculating NPV$.$