Hancock Construction needs a piece of equipment that can be leased or purchased. The firm conducts a purchase-versus-leasing analysis and determines that the PV cost of owning is -$26,600 and the PV cost of leasing is -$24,150. What is the net advantage to leasing (NAL)? Round your answer to the nearest dollar. Input the minus sign if the cost of leasing the machinery is more than the cost of owning it.

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Should the firm purchase the equipment or lease it?

The cost of leasing is -Select-less thangreater thanequal toItem 2 the cost of owning, so the firm -Select-should lease the equipmentshould purchase the equipmentmay choose any of the optionsItem 3 .