Suppose you can buy a car for $20,000 each 5 year. At the end of each 5-year period you can sell the car for half its purchase price. The repair costs run $1000 in the first year of ownership, increasing by $500 each year until you sell it (so t=4: $2500 repair cost for clarification]. Option 2 is leasing a car for $5000 a year. You're going to need a vehicle for 30 years (6 cycles]. How much cheaper is option 2 than option 1 in present value (for all 6 cycles]? (MARR = 8%] less than $2600 2600 - 2650 2650 - 2700 2700 - 2750 more than $2750