LMN Ltd. operates a retail chain and is evaluating the lease or purchase decision for a new store location. The company has the option to lease the property for $10,000 per month or purchase it for $1,000,000. The useful life of the property is estimated to be 20 years. If the company decides to purchase, it plans to finance the acquisition with a loan at an interest rate of 8%.

Perform a comprehensive lease versus buy analysis, considering factors such as net present value (NPV), internal rate of return (IRR), and lease payments versus loan repayments, to guide LMN Ltd. in making the optimal decision for the new store location.