Storage tanks to hold a highly corrosive chemical are currently made of material Z26. The capital investment in a tank is $32,000, and its useful life is eight years. Your company manufactures electronic components and uses the ADS for Asset Class 36.0 under MACRS to calculate depreciation deductions for these tanks. The net MV of the tanks at the end of their useful life is zero. When a tank is four years old, it must be relinec at a cost of $8,000. This cost is not depreciated and can be claimed as an expense during year four. Instead of purchasing the tanks, they can be leased. A contract for up to 20 years of storage tank service can be written with the Rent Al Company. I our firm's after tax MARR s 1 1% per year, what is the greatest annual amount that you can afford to pay for tank leasing without causing purchasing to be the more economical alternative? Your firm's effective income tax rate is 38%. Click the icon to view the partial listing of depreciable assets used in business. Click the icon to view the interest and annuity table for discrete compounding when the MARR is 11% per year. The greatest annual amount that you can afford to pay is $(Round to the nearest dollar)