Lease or Sell Kincaid Company owns equipment with a cost of $366,200 and accumulated depreciation of $53,200 that can be sold for $275,700, less a 3% sales commission. Alternatively, Kincaid Company can lease the equipment for three years for a total of $284,400, at the end of which there is no residual value. In addition, the repair, Insurance, and property tax expense that would be incurred by Kincaid Company on the equipment would total $16,500 over the three year lease. a. Prepare a differential analysis on February 18, as to whether Kincaid Company should lease (Alternative 1) or sell (Alternative 2) the equipment Differential Analysis Lease (Alt. 1) or Sell (Alt. 2) Equipment February 18 Lease Equipment Sell Equipment Differential Effect (Alternative 1) (Alternative 2) on Income (Alternative 2) Revenues Costs Income (Loss) b. Should Kincaid Company lease (Alternative 1) or sell (Alternative 2) the equipment