Nio Inc. (Nio) needs to expand its production capacity. In order to do so, Nio is going to acquire a machine and wants to know whether it should lease or purchase the machine. Nio has a 32% tax rate. The terms of the lease and the purchase options are as follows: Lease: The leasing arrangement has a five (5) year term and requires beginning of the year before tax payments of $15,650.00 Purchase: Cost of the machine $71,000.00 Before tax cost to finance 10.25% Machine salvage at the end of 5 years $11,280.00 CCA Rate 30% Required: a) Which financing alternative do you recommend Nio go forward with and why? Make sure to provide calculations to support your answer.