You are a dentist and are considering of purchasing a dental equipment. The equipment costs $12,000. If you purchase the equipment, you can generate additional revenue of $8,000 per year. The equipment has a useful life of 2 years. You will depreciate the equipment to zero using the straight-line method. Instead of purchasing, you can lease it for 2 years, with an annual lease payment of $8,000. The lease payment is tax deductible. The tax rate is 30%. The discount rate is 10%. What is the NPV of leasing instead of buying decision (that is, NPV of lease minus purchase)?

a.$0

b.$843

c.-$1,876

d.-$843

e.$1,876