Lease versus purchase JLB Corporation is attempting to determine whether to lease or purchase research equipment. The firm is in the $22\%$ tax bracket, and its after$-$tax cost of debt is currently $8\%.$The terms of the lease and of the purchase are as follows:Lease Annual end$-$of$-$year lease payments of $$33,000$ are required over the three$-$year life of the lease. All maintenance costs will be paid by the lessor; insurance and other costs will be bome by the lessee. The lessee will exercise its option to purchase the asset for $$6,000$ at termination of the lease. Ignore any future tax benefit associated with the purchase of the equipment at the end of year $3$ under the lease option.Purchase The equipment costs $$75,000$ and can be financed with a $16\%$ loan requiring annual end$-$of$-$year payments of $$33,394$ for three years. JLB will depreciate the equipment under MACRS using a three$-$year recovery period. $($See E for the applicable depreciation percentages.$)$ JLB will pay $$1,600$ per year for a service contract that covers all maintenance costs; insurance and other costs will be borne by the firm. The firm plans to keep the equipment and use it beyond its three$-$year recovery period.a$.$ Calculate the after$-$tax cash outflows associated with each alternative. $($Hint: Because insurance and other costs are borne by the firm under both alternatives, those costs can be ignored here.$)$