movetar inc., of phoenix need a new long distance moving van that cost $53,000 with an estimated lifespan of six years and salvage value of $11,000. movetar can secure a $53,000 loan from a local bank repayable in six equal payments at a 10 percent interest rate. Alternatively, movetar can lease the van for $15,000 annually. if purchased, movetar will incur an annual maintenace cost of $2,000. Assume a straight line depreciation, a tax rate of 40% and a cost of capital (WACC) of 16%

Given the above information, should movetar, inc. purchase or lease the van. why? provide quatitative support for your recommendation.