Problem 11-4 Baker Company needs to decide whether to buy or lease office equipment. Baker can buy the office equipment for $250,000 today, which would require that they borrow the funds from the bank. The bank will charge them 8% and require equal monthly payments over 4 years. They also have the option of leasing the office equipment for either 3 years or 5 years. If they choose to lease for 3 years, they will have to put $10,000 down today and make monthly lease payments of $7,500 and they can purchase the office equipment after the last payment for $5,000. If they opt for the 5-year lease, they need to put $10,000 down today and make monthly payments of $5,000 and they can purchase the office equipment after the last payment for $3,000. Which option is best? Explain with numerical analysis