There are two parties in any lease contract-the lessee and the lessor. To a lessor, a lease analysis involves a capital budgeting analysis of the property or equipment to be leased. The lessor's decision is either to purchase and lease-out the asset, or not make the investment at all. Like any capital budgeting decision, the lessor needs to evaluate the rate of return expected to be earned from making the lease. Further, since the cost and other terms of leases involving high-cost items are negotiated, this rate of return information is also important information for a prospective lessee. om the following statements, identify the steps involved in lease analysis from a lessor's perspective. Check all that apply. Determine periodic cash inflows from the lessee. Check and ensure that the lessor's cost of capital is more than the rate of return on the lease. Determine the net cash outlay of the lease agreement. Assuming all other factors and values are constant among these leases, from the lessor's perspective, which of the following is the best lease? A lease that generates an after-tax rate of return of 4.88%. A lease that has an IRR of 3.08%. A lease that has an MIRR of 2.48%. A lease that has an NPV of $45,000. Based on your understanding of lease contracts, which type of lease cash flow has the most uncertainty? Tax savings Loan payments Lease payments