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Your landscaping company can lease a truck for $8,400 a year for 7 years. It can instead buy the truck for $40,000. The truck will

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Your landscaping company can lease a truck for $8,400 a year for 7 years. It can instead buy the truck for $40,000. The truck will be valueless after 7 years. a. What is the present value of the lease payments, if the opportunity cost of capital is 8%. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b. Is it cheaper to buy or lease? Buy Lease

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