Your company needs to acquire a new machine. You have gathered the following information:

Cost of the machine $66,000

Useful life 11 years

Salvage value $5,500

Borrowing rate 9%

Lease payment, beginning of each year $9,350

CCA rate 22%

Tax rate 28%

Salvage value discount rate 17%

Required: Use NPV analysis to determine whether the company should buy or lease the machine.

(round to the nearest dollar)