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Two days ago, one of Harmony Catering Inc.'s delivery vans stopped...

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Accounting

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Two days ago, one of Harmony Catering Inc.'s delivery vans stopped working. To meet demands, the company needs a new van. The company is deciding to either lease or purchase a new van. The company can lease the van from Leaselt Ltd. under a 5 year contract. The lease cost would be $12,600 per year. On the other hand, Harmony can purchase a van from Buyit Ltd. for $47,000. Assume Harmony has a required rate of return of 11%. Do not enter dollar 5 igns or commas in the input boxes. Use the present value tables found in the textbook appendix. Round your answer to the nearest whole number. Use the NPV method to determine which alternative the company should accept. Lease Cost: $ Purchase Cost: $ Therefore, Harmony should

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