ong's Manufacturing wants to determine whether it should lease or purchase some equipment. The capital budgeting analysis indicated the equipment should be ecured. The question is whether to lease or purchase. he equipment has a five-year useful economic life. The asset is in class 10 (CCA rate 30% ) and the PV of the tax savings from CCA is $102,997. The salvage value at he end of 5-years is $75,000. The firm's after-tax cost of borrowing is 9% and their tax rate is 40%. The equipment costs $400,000 if purchased or it can be leased or five years at $105,000 per year, with the first payment payable in advance. If they purchase the equipment, they will have annual maintenance costs of $10,000 per ear (lessor will pay if leased). The PV of the annual maintenance cost is $23,340. ialculate the PV of Salvage. (round your answer to the nearest \$) Numeric Response