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

You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a very common practice with expensive, high-tech equipment). The scanner costs $7,000,000. Because of radiation contamination, it will actually be completely valueless in four years. You can lease it for $2,020,000 per year for four years. Assume that the tax rate is 35 percent. You can borrow at 7 percent before taxes. Assume that the scanner will be depreciated as three-year property under MACRS. What is the NAL of the lease? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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