Lease or Sell Felix Company owns a equipment with a cost of $365,800 and accumulated depreciation of $53,700 that can be sold for $273,900, less a 3% sales commission Alternatively, Felix Company can lease the equipment to another company for three years for a total of $287,800, at the end of which there is no residual value. In addition, the repair, insurance, and property tax expense that would be incurred by Felix Company on the equipment would total $15,300 over the three years. Prepare a differential analysis on March 23 as to whether Felix Company should lease (Alternative 1) or sell (Alternative 2) the equipment. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential Analysis Lease Equipment (Alt. 1) or Sell Equipment (Alt. 2) March 23 Differential Effect Lease Equipment Sell Equipment on Income (Alternative 1) (Alternative 2) (Alternative 2) Revenues SIN7.NO $ 150 X -15.30 265.683 X Costs 165.63 Income (o) 272.500 Chucky Work Subtract the lease costs from the lease revenues. Subtract the sell equipment costs from the sell equipment revenue Determine the differential effect on income of the revenues, costs, and income (loss) by subtracting alternative 1 from alternative 2. Should Felix Company lease (Alternative 1) or sell (Alternative 2) the equipment? Lease the equipment