represents a group of investors believes that it can arrange for a lease financing plan. Assume that these facts apply: 1. The equipment falls in the MACRS 3 -year class. 2. Estimated maintenance expenses are $48,000 per year. 3. The firm's tax rate is 31%. 4. If the money is borrowed, the bank loan will be at a rate of 13%, amortized in six equal installments at the end of each year. 5. The tentative lease terms call for payments of $280,000 at the end of each year for 3 years. The lease is a guideline lease. 6. Under the proposed lease terms, the lessee must pay for insurance, property taxes, and maintenance. show the cost of the used equipment at Year 3 and its depreciation expenses starting at Year 3. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet To assist management in making the proper lease-versus-buy decision, you are asked to answer the following questions: a. What is the net advantage of leasing? Should Sadik take the lease? Do not round intermediate calculations. Round your answer to the nearest dollar. Net advantage of leasing $ Since the cost of leasing the machinery is than the cost of owning it, the firm should the equipment. cash flow at a higher rate, you get a better NPV - the NPV of a negative cash flow stream is less negative at high discount rates.)