La Fleur purchased the building in which their corporate office is housed on 1/1/20 for $4,200,000. They put down $900,000 cash and had to borrow the remaining amount at 5% over a 20-year term. At the time of the purchase, they had the option to lease the building. The 20-year lease would begin on 1/1/20 and called for payments of $350,000 beginning on that date for the first 10 years and payments of $300,000 beginning on 1/1/30 for the remaining 10 years of the lease. La Fleur had the option to purchase the building for $1 on December 31, 2039 at the end of the lease. Did La Fleur make the right decision by purchasing the building? Why or why not? Show your work.

PLEASE EXPLAIN HOW YOU CALCULATE PVIFA