Kingbird Excavating Inc. is purchasing a bulldozer. The equipment has a price of $91,400. The manufacturer has offered a payment plan that would allow Kingbird to make 7 equal annual payments of $18,774.06, with the first payment due one year after the purchase.

total interest= 40018

Kingbird could borrow $91,400 from its bank to finance the purchase at an annual rate of 9%.

Should Kingbird borrow from the bank or use the manufacturers payment plan to pay for the equipment? (Round answer to 0 decimal places, e.g. 7%.)

Manufacturer's rate ????????