You must decide whether to buy a new car for $25,000 or lease the same car over a three-year period. Under the terms of the lease, you make a down payment of $1500 and have monthly payments of $240. At the end of three years, the leased car has a residual value (the amount you pay if you choose to buy the car at the end of the lease period) of $14,000. Assume you sell the new car at the end of three years at the same residual value. Compare the cost of leasing and buying the car.