You are considering leasing a piece of equipment. Compute the Present Value of Leasing Costs (after taxes). The details of the lease are as follows:

Annual Lease Payments = $12,400 (due at Beginning of Year) Lease Term = 5 Years Corporate Tax Rate = 30% Present Value Discount Rate = 7%

a) -54,401

b) -15,253

c) -48,297

d) -35,590

e) -39,149