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 $6,400,000 and would be depreciated straight-line to zero over six years. Because of radiation contamination, it will actually be completely valueless in six years. You can lease it for $1,320,000 per year for six years. Assume that the tax rate is 25 percent. You can borrow at 7 percent before taxes. What is the NAL? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Should you buy or lease?