Your firm is considering leasing a new stamping press. The lease lasts for $5$ years.

The lease calls for $6$ payments of $$12,500$ every year with the first payment

occurring immediately. The press would cost $$59,000$ to buy and would be

depreciated using the straight$-$line method to a $$22,125$ salvage value over $5$

years. The firm can borrow at a rate of $5\mathrm{.}15\%.$ The corporate tax rate is $31\%.$ What is the NPV of the lease?