Suppose the purchase price of a high-end forklift is CHF 120'000, its residual value in five years is certain to be CHF 20'000, and there is no risk that the lessee will default on the lease. Assume that capital markets are perfect and the risk-free interest rate is 4% APR with monthly compounding.

1. What are the monthly lease payments for a five year lease of the forklift?
2. Suppose that instead of leasing this luxurious forklift, the company is considering purchasing it outright by borrowing the purchase price using a four-year annuity loan. What is the monthly loan payment for a five year loan to purchase the forklift?
3. Calculate the monthly lease payment for a five year CHF 1 out lease of the forklift.