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You see an advertisement for a 24 -month lease for $189 payable at the beginning of each month. The lease requires a $2,399 down payment

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You see an advertisement for a 24 -month lease for $189 payable at the beginning of each month. The lease requires a $2,399 down payment plus first month payment. At the end of the lease the lessee is charged a $350 disposition fee, plus $0.18 per mile for every mile over the allowed mileage (12,000 miles driven per year of the lease). Assuming an interest rate of 6% compounded monthly, and you drive 40,000 miles over the two years of the lease, what is the total present-value cost of leasing the car? (10 points)

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