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You are the CFO for an airline and are deciding whether you should lease some new airplanes. Assume you may buy them at $ 1

You are the CFO for an airline and are deciding whether you should lease some new airplanes. Assume you may buy them at $100MM or to lease over 10 years at $12.5MM aftertax (payments in arrears). You believe the residual value will be $20 MM after 10 years and have an after-tax interest rate of 5%. What is your Net Advantage of Leasing (NAL)?
Make sure you do not add any dollar signs or commas to your answer. Just put in the whole number of dollars (no need for cents here).
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