Lease or sell McFadden Company owns equipment with a cost of $456,000 and accumulated depreciation of $260,000 that can be sold for $175,000, less a 7% sales commission. Alternatively, McFadden Company can lease the equipment for four years for a total of $180,000, at the end of which there is no residual value. In addition, the repair, insurance, and property tax expense that would be incurred by McFadden Company on the equipment would total $36,200 over the four year lease. This information has been collected in the Microsoft Excel Dnline le. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Prepare a differential analysis on February 18 as to whether McFadden Company should lease (Alternative 1) or sell (Alternative 2) the equipment. Use a minus sign to indicate costs or negative differential effect on income. Differential Analysis Lease (Alt. 1) or Sell (Alt. 2) Equipment February 18 Lease Equipment (Alternative 1) Sell Equipment (Alternative 2) Differential Effect on Income (Alternative 2) as C] $ [:1 $ [:1 mum-.5) $ l:l $:l $ :l Should McFadden Company lease (Alternative 1) or sell (Alternative 2) the machine? 7