Tinker is considering the lease of an electronic welder costing $210,000 from Tailor Leasing. The period of the lease will be 6 years. The welder will be depreciated as a 5 -year class asset under MACRS rules. (MACRs 5 -year asset class percentages: 20%,32%,19.2%,11.52%,11.52%,5.76% ). Tinker's marginal tax rate is 40%. Annual, pre-tax lease payments will be $40,000, and will occur at the beginning of each year. The estimated salvage value of the asset is $10,000. Compute the NAL assuming Tinker's after-tax cost of borrowing is 15%. $42,400$44,980$46,302$45,650