Luigi's pizza emporium is considering whether to lease or purchase a new state of the art wood fired pizza oven from Italy. The cost of the pizza oven will be $275,000 and has a useful life of 15 years. Luig) expects to retire in 8 years at which time he believes he can sell the oven for $50.000. Luigi has contacted a local financial institution and they have agreed to lend Luig the funds to purchase at a rate of 9 with annual payments amortized over eight years. Alternatively, Luigi could lease the equipment from the manufacturer with lease payments of $40,000 per year for 8 years. The first payment will be due immediately upon delivery of the equipment. if the equipment is purchased the vendor will perform an annual maintenance on the oven at a cost of $3.000 per year. Luig's Pizza has a cost of capital of 124 and a tax rate of 30%. Pizza ovens have a CCA rate of 25% Required: Should Luigi's pizza lease or borrow to purchase the equipment Show all calculations. A- B