Your landscaping company can lease a truck for $$7,950\mathrm{.}00$ a year for $8$ years. It can instead buy the truck for $$51,309\mathrm{.}90.$ The truck will be valueless after $8$ years.

a$.$

What is the present value of the lease payments, If the interest rate your company can earn on its funds is $6\mathrm{.}50\%.($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Present value $

b$.$ Is it cheaper to buy or lease?

multiple choice

lease

buy