Medarex is considering the lease of an electronic welder costing $210,000 from Key Leasing. The period of the lease will be 6 years. The welder will be depreciated under MACRS rules for a 5-year class asset. Medarex's marginal tax rate is 40%. Annual beginning-of-the-year lease payments will be $50,000. Estimated salvage value is zero. Assuming Medarex's after-tax cost of borrowing is 15%, compute the net advantage to leasing. (Problem requires MACRS tables.)

	a.	$17,592
	b.	$67,174
	c.	$8,527
	d.	$21,427