Youre just completed your master degree and received an offer. You would now like to buy or lease a $25,000 car. The lease is for 24 months. The financing information is as follows (3 points): The cost of purchasing the car is $25,000 There is a $250 acquisition fee paid by the lessee at the beginning of the lease. There is a $250 security deposit for the lessee at the beginning of the lease. o This fee is refunded at the end of the lease. The promised residual value at the end of 2 years is $10,000. o If the true value is less than this, you must pay the difference. o If the true value is greater than this, you do not receive anything. You believe the value of the car will be worth $12,000 at the end of the lease. The monthly lease payments are $650 a month for 24 months. All payments occur at the end of the period. You are considering 2 options: 1) Lease the car. 2) Borrow from a bank that charges an APR of 6% annually, compounded monthly (or .5% monthly). In addition, the bank charges 1.6 point to borrow from them. In other words, if you borrow $X, you will only receive $X * (1 -0.016), but you will be charged as if you borrowed $X. a. What is the EAIR associated with the lease? (0.5 points) b. Create a data table that shows the EAIR associated with the lease as the promised residual value changes from $6,000 to $18,000 (in increments of $2000) (0.5 point). c. Intuitively explain the pattern documented in the data table. (0.5 point). d. What is the EAIR of a bank loan? [You may assume a PV of the loan of $25,000 and a future value of 0]. (0.5 points) e. Based on your analysis, should you buy (and borrow from the bank) or lease? Why? (0.5 point). f. Compute a monthly amortization table for the bank loan. (0