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Financial leases (Please provide answer and explanation in detrail) Greymare Bus Lines is considering a...

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Accounting

Financial leases (Please provide answer and explanation in detrail)

Greymare Bus Lines is considering a lease. Your operating manager wants to buy a new bus for $200,000. The bus has an 8 year life. The Bus Saleswoman says she will lease Greymare the bus for 8 years at $30,000 per year, but Greymare assumes all operating and maintenance costs. Should Greymare Buy or Lease the bus? Assume that Greymare Bus Lines can borrow at 9% and tax rate is 30%

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