Stanley Inc. must purchase $6,798 worth of service equipment and is weighing the merits of leasing the equipment or purchasing. The company has a zero tax rate due to tax loss carry-forwards and is considering a 5-year bank loan to finance the equipment. The loan has an interest rate of 8% and would be amortized over 5 years with 5 end-of-year payments. Stanley can also lease the equipment for 5 end-of-year payments of $1,534 each. How much larger or smaller is the bank loan payment than the lease payment? Note: Subtract the lease payment from the loan payment to determine the difference.