Joan has a choice of purchasing a car for $20,000 with 9.7% interest cost to borrow and a 3 year repayment period with monthly payment. Leasing the auto would cost $300 a month for a 3 year term. The sales tax is 6%. The car is expected to have a value of $14,000 at the end of the leasing period. Joan can obtain 7% after tax on similar marketable investments. Should she lease or buy the car?