You own a cab company and are evaluating two options to replace your fleet. Either you can take out a$$ five$-$year lease on the replacement cabs for $ $519$

per month per$$ cab, or you can purchase the cabs outright for $ $30$ comma $200$

$,$

in which case the cabs will last eight years. You must return the cabs to the leasing company at the end of the lease. The leasing company is responsible for all maintenance$$ costs, but if you purchase the$$ cabs, you will buy a maintenance contract that will cost $ $108$

per month for the life of each cab. Each cab will generate revenues of $ $1$ comma $059$

per month. Assume the cost of capital is fixed at $12\mathrm{.}9\%$

$.$

$($Hint:

Make sure to round all intermediate calculations to at least four decimal places.$)$

$$

a$.$ Calculate the NPV per cab of both$$ possibilities: purchasing the cabs or leasing them.

The NPV of leasing the cabs is $$$enter your response here

per cab.$($Round to the nearest$$ dollar.$)$