Pelcor Dairies Limited needs to install a new automated plant in order to overall its plant modernisation and cost reduction programme. The plant can be leased or purchased. The company's pre-tax cost of capital is 10% and the income tax rate is 30%. Lease: payments of R26 800 to be made at the end of years 1 to 4. The lessor is responsible for all servicing and maintenance cost amounting to R4 000 per annum. The plant has an expected life of six years. However, Pelcor Dairies plans to build an entirely new plant in four years and has no interest in either leasing or owning the proposed plant for more than the stated period. Owning: The plant has an invoice price of R100 000, including delivery and installation charges. A cash payment is made in full upon installation (year 0). Service fees of R8 000 will be paid at the end of each of the 4 years. Depreciation is calculated at 25% per annum, using the reducing balance method. Jenny intends to sell the plant at the end of year 4, at its book value. Required: Determine the after-tax cash outflows and the net present value of the cash outflows under each alternative and recommend the best alternative. (calculate to the nearest whole figure)