Pinder Ltd needs to use a truck for its operations. The truck costs $180,000 and is expected to last for 8 years. The salvage value of the truck at the end of the 8 years is expected to be $15,250. Pinder Ltd has an effective tax rate of 30% and the before-tax cost of borrowing is 10% per annum. If purchasing the truck, Pinder Ltd will use a straight-line depreciation method for taxation purposes and will fully depreciate it. Pinder Ltd has the option of borrowing-to-buy the truck or to lease the truck, where the lease payment is $25,000 per year and would be due in advance each year. What is the NPV from leasing the truck? Round to the nearest two digits.

Group of answer choices

A) $21,758.32

B) None of the other answers are correct.

C) $21,848.43

D) $21,668.22

E) $21,938.53