Penny Construction Company is considering selling excess equipment with a book value of $11,000 (original cost of $20,000 less accumulated depreciation of$9,000) for $7,000 less a 5% brokerage commission. Alternatively, the machinery can be leased to another company for a total of$8,000 for five years, after which it is expected to have no residual value. During the period of the lease, Penny Construction Company's costs of repairs, insurance, and property tax expenses are expected to be $1,000. Penny should lease the equipment generating differential income of $350 lease the equipment generating differential income of $1,000 sell the equipment generating differential income of $1,000 sell the equipment generating differential income of $350