The engineering office at the University of Regina is considering two options to conduct their color printing jobs. They are considering to either lease or to purchase a color printer. The lease of a color printer involves a payment every year for the five-year useful life of the printer. In contrast, the purchase option involves continuing maintenance and cost of purchase, but it also has resale value. As an engineering student currently taking ENGG 303, can you provide recommendation to the engineering office on which option they should choose. The following data for the two alternatives are given: Option 1: a security deposit of $3000 at the beginning of the lease period that will be given back at the end of the lease plus a yearly lease value of $3000 Option 2: a purchase value of $25,000, a yearly maintenance cost of $1300, and a resale value of $8,000 The engineering office at the University of Regina is considering two options to conduct their color printing jobs. They are considering to either lease or to purchase a color printer. The lease of a color printer involves a payment every year for the five-year useful life of the printer. In contrast, the purchase option involves continuing maintenance and cost of purchase, but it also has resale value. As an engineering student currently taking ENGG 303, can you provide recommendation to the engineering office on which option they should choose. The following data for the two alternatives are given: Option 1: a security deposit of $3000 at the beginning of the lease period that will be given back at the end of the lease plus a yearly lease value of $3000 Option 2: a purchase value of $25,000, a yearly maintenance cost of $1300, and a resale value of $8,000