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Problem 21-1 Lease or Buy You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a common practice with

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Problem 21-1 Lease or Buy You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a common practice with expensive, high-tech equipment). The scanner costs $4,900,000 and would be depreciated straight-line to zero over three years. Because of radiation contamination, it will actually be completely valueless in three years. You can lease it for $1,840,000 per year for three years. Assume that the tax rate is 25 percent. You can borrow at 7 percent before taxes. Calculate the NAL. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NAL Should you lease or buy? O Buy O Lease

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