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Differential Analysis for a Lease-or-buy Decision Moffett Industries is considering new equipment. The equipment can be purchased from an overseas supplier for $550,000. The freight and installation costs for the equipment are $15,000. If purchased, annual repairs and maintenance are estimated to be $8,000 per year over the 6-year useful life of the equipment. Alternatively, Moffett Industries can lease the equipment from a domestic supplier for $95,000 per year for 6 years, with no additional costs. a. Prepare a differential analysis dated February 12 to determine whether Moffett Industries should lease (Alternative 1) or purchase (Alternative 2) the equipment. (Hint. This is a "lease or buy" decision, which must be analyzed from the perspective of the equipment user, as opposed to the equipment owner.) If an amount is zero, enter " on. Differential Analysis Lease (Alt. 1) or Buy (Alt. 2) Equipment February 12 Lease Buy Differential Line Item Description Equipment Equipment Effects Alternative 1) (Alternative 2) (Alternative 2) Costs: Purchase price Freight and installation 15,000 Repair and maintenance (6 years) Lease (6 years) Total costs b. Determine whether Moffett should lease (Alternative 1) or buy (Alternative 2) the equipment