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You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner ( leasing is a common practice with expensive, high - tech

You work for a nuclear research laboratory that is contemplating leasing a diagnostic
scanner (leasing is a common practice with expensive, high-tech equipment). The
scanner costs $4.3 million and would be depreciated straight-line to zero over four
years. Because of radiation contamination, it will actually be completely valueless in four
years. Assume that the tax rate is 21 percent. You can borrow at 8 percent before taxes.
What would the lease payment have to be for both the lessor and the lessee to be
indifferent about the lease? (Do not round intermediate calculations and enter your
answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g.,
1,234,567.89.)
Break-even lease payment
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