You work for a nuclear research laboratory that is contemplatingleasing a diagnostic scanner (leasing is a common practice withexpensive, high-tech equipment). The scanner costs $4,800,000 andwould be depreciated straight-line to zero over three years.Because of radiation contamination, it will actually be completelyvalueless in three years. Assume that the tax rate is 24 percent.You can borrow at 6 percent before taxes.
What would the lease payment have to be for both the lessor andthe lessee to be indifferent about the lease? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)
