The Chief Financial Officer of ENG Company decided to purchase a warehouse instead of renting it. The CEO wants you to review the facts and decide whether it is the right decision or not. The company could rent the warehouse for $7,500 per year or it could purchase it for $52,500 and use it for years 0 through 7. The warehouse depreciation rate is 15%. ENG has a marginal tax rate of 15% and uses an 8% discount rate to compute NPV.