I have the answer in bold below but I need calculation details for them all.

31. If the lease payments of the $800,000 asset were $210,000, first payment occurring at the beginning of the first year when the lease is signed, and tax rate is 40%. What would the CCA tax shields be for Years 0 and 4, assuming these tax shields start in Year 0 and end in Year 4? Remember: CCA = 30%. A. $48,000 and $27,989 B. $52,000 and $0 C. $120,000 and $69,972 D. $48,000 and $69,972

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32. If the lease payment for the machine in Question above were made in advance, starting at the beginning of the first year of the contract, what would the size of such a payment now be as an equivalent annual cost? A. $71,455 B. $14,644 C. $15,533 D. $15,816

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33. What is the undepreciated capital cost of $800,000 asset after five CCA calculations of 30% declining balance, with the half-year rule? A. $0 B. $240,000 C. $163,268 D. $145,564

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34. If a machine costs $50,000, and $5,000 a year for the less or to maintain and insure, what equivalent annual cost would serve as the basis of a full-service lease payment for a six-year operating lease, paid in arrears, if the lessor's cost of capital is 8%? A. $15,816 B. $73,114 C. $17,155 D. $55,000

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35. Following the time sequence described in Table 17.1, , what would the present value of cash flows be for leasing this $800,000 asset if the lessee's before tax cost of capital were 15% and the lease payments of the assets were $210,000? The tax rate is 40% and CCA = 30%. Note that the asset is scrapped and alone in its pool at the time of disposition.The assest is scrapped in 4 years. A. ($24,555) B. $3,456 C. $2,457 D. $1,708

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36. You are the manager of a sales division. You are considering leasing a fleet of cars for your staff. You can buy the cars for $300,000 or you can lease them for eight years at $60,000 per year. The company faces a tax rate of 40% and a CCA rate of 10% on vehicles. If the company buys the cars and finances the purchase with a loan, they will pay 7% after-tax in interest. Assume that after the term of the lease is over, the salvage value of the cars will be zero. What is the NPV of the lease? A. $9,340 B. $16,754 C. $29,521 D. 34,195

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37. You are the CFO of a company. You are considering leasing photocopiers from the manufacturer instead of purchasing them for $200,000. You can borrow at after-tax interest of 9% and the corporate tax rate is 35%. The lease payment will be $50,000 for five years. At the end of the five years, the photocopiers will be worthless. Photocopiers are depreciated at 20% CCA rate. What is the NPV of the lease? A. $27,304 B. $39,582 C. $52,395 D. $73,586

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