Lease or Sell Ferrigno Company owns equipment with a cost of $366,600 and accumulated depreciation of $53,600 that can be sold for $274,500, less a 3% sales commission. Alternatively, Ferrigno Company can lease the equipment to another company for three years for a total of $287,600, at the end of which there is no residual value. In addition, the repair, insurance, and property tax expense that would be incurred by Ferrigno Company on the equipment would total $15,000 over the three years. Prepare a differential analysis on March 23 as to whether Ferrigno 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 Lease Equipment Revenues 287,600 Costs x Profit (loss) Sell Equipment Differential Effect (Alternative 2) (Alternative 1) (Alternative 2) 274,500 x x