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Your firm is considering leasing a new robotic milling control system. The operating lease lasts for 5 years. The lease calls for 5 payments of

Your firm is considering leasing a new robotic milling control system. The operating lease lasts for 5 years. The lease calls for 5 payments of $300000 per year with the first payment occurring at the beginning of the lease period. The system would cost $1,050,000 to buy and would be straight-line depreciated to a zero salvage value. The firm has enough cash on hand to purchase the asset. The actual salvage value is zero. The firm can borrow at 8% and the corporate tax rate is 34%
. what is the maximum lease payment that you would be willing to make

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