Your firm is considering leasing a new laser light. The lease lasts for 3 years. The lease calls for 4 payments of $12,000 per year with the first payment occurring immediately. The computer would cost $33,000 to buy and would be straight-line depreciated to a zero salvage value over 3 years. The actual salvage value is negligible because of technological obsolescence. The firm can borrow at a rate of 10%. The corporate tax rate is 40%. What is the after-tax cash flow from leasing relative to the after-tax cash flow from purchasing in years 1-3? None of these \begin{tabular}{|} $11,650 \\ $32,775 \\ $11,750 \\ $11,600 \end{tabular}