Keating Co. is considering disposing of equipment with a cost of $54,000 and accumulated depreciation of $37,800. Keating Co. can sell the equipment through a broker for $31,000 less 6% commission. Alternatively, Gunner Co. has offered to lease the equipment for five years for a total of $47,000. Keating will incur repair, insurance, and property tax expenses estimated at $10,000 over the five-year period. At lease-end, the equipment is expected to have no residual value. The net differential income from the lease alternative is $5,502 $11,790 $7,860 X $9,432 Feedback Check My Work Incorrect