INN Competent Industries is considering the purchase of a $$300,000$ asset that has a $5-$year life. The asset will generate after$-$tax cash flows of $$98,000$ per year and the company has a marginal tax rate of $40$ percent. The opportunity cost of capital is $12\%.$ The equipment is in class $38($CCA rate of $30\%).$ The lease payments are $$90,000$ per year $($beginning of the year$)$ for $5$ years and the before tax cost of borrowing in the lease is $9\%.$a$)$ Should the equipment be bought? $(12$ marks$)$b$.$ Should the equipment be leased? $(13$ marks$)$c$.$ What is the maximum payment that the company would consider making to at least break even on the leasing arrangement? $(10$ Marks$).$ Please actually show the solving and actually solve it$.$Show your formulas too please. Not giving an explanation on how to solve it as a response. I have solved this question twice in $2$ different ways and one or both may br wrong. I am confused. And NO EXCEL.