Henry graduated from college and found a job as an online marketing specialist in a social networking company. Within a year, he saved $2000 and determined to buy a new car but was not sure if he should lease it or buy it by financing the amount from a bank. A car salesman at the showroom gave him the following table illustrating the comparison of the lease vs. finance options for the car he liked. Once you post your response, respond to your classmates (at least 2) regarding their responses. Show your work. Description Leasing the car Financing the car List price $21,500.00 $21,500.00 Additional purchase costs* $1,817.00, $ 1,817.00 13% HST-$3031.21 (to purchase) Net price $23,317.00 lease, $26,348.21 purchase Down payment$2000.00 $2000.00 Term in months 48 48 Monthly payments: Lease $250.00 + 13% HST (month-beginning payments), Purchase $562.13 (month-end payments) Residual payment to own $12,453.56 + 13% HST (for a lease) Nil*Additional purchase costs include freight & PDI, Air Conditioner Tax, Tire Tax, and registration fees. Assume that money is worth 5.5% compounded annually. a.Which option would be economically better for Henry? b.Which option would be economically better if the residual value was $15,500 (including HST) for the lease option