Please use the compound interest table instead of the formula to find Interest factors.

Also please solve by hand and DO NOT use EXCEL

2. A contractor is considering whether to buy or lease a new machine for her layout site work. Buying a new machine will cost $12,000 with a salvage value of $1,200 after the machine's useful life of 8 years. On the other hand, leasing requires an annual lease payment of $3,000. Assuming that the MARR is 15% and on the basis of the incremental internal rate of return analysis, which alternative should be chosen