Your landscaping company can lease a truck for $7,200 a year (paid at year-end) for 6 years. It can instead buy the truck for $35,000. The truck will be valueless after 6 years. The interest rate your company can earn on its funds is 7%. a. What is the cost of leasing? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value of lease $ b. Is it cheaper to buy or lease? Buy Lease What if the lease payments are an annuity due, so the first payment comes c-1. immediately? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value of lease $ c-2. Is it cheaper to buy or lease? Buy Lease