using formulas and compound table

A contractor is considering whether to buy or lease a new equipment for their new project Buyinet the equipment will cost $70,000 with a salvage value of $15,000 after the machine usefur life of $ vears. On the other hand, the same equipment can be leased for $16,000 per year (payable at the beginning of the year). Assuming that the MARR is 15% and on the basis of an internal rate of returm analysis, which alternative should be selected? Edit View Insert Format Tonle rat