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 $4,500,000 and would be depreciated straight-line to zero over three years. Because of radiation contamination, it will actually be completely valueless in three years. You can lease it for $1,650,000 per year for three years. Assume a 21 percent tax bracket. You can borrow at 6 percent before taxes.

What is the NAL of the lease from the lessors viewpoint?