summarized as follows:

Purchase cost of equipment

Annual operating costs

Immediate deposit

Annual lease payments

Salvage value $(5$ years from now$)$

Lease

Buy

$$60,000$

$$6,000$

$$25,000$

$$15,000$

$$10,000$

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using the tables provided. lease payments are made at the end of each year. Assuming a discount rate of $20\%,$ what is the net present value of the cash flows associated with buying the equipment?

Multiple Choice

$$(75,926)$

$$(73,926)$

$$(69,926)$

$$(71,926)$