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Your landscaping company can lease a truck for $8,000 a year (Paid at year end)...

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Finance

Your landscaping company can lease a truck for $8,000 a year (Paid at year end) for 6 years. You can instead buy the truck for $40,000. The truck will have a salvage value $7,000 at the 6th year. if R=7%, is it cheaper to buy or lease?

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