Given the lease payments and terms shown in the following table, determine the yearly after-tax cash outflows for each firm. Assume that lease payments are made at the beginning of each year. The firm is in the 40% tax bracket, and that no purchase option exists.

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Term of Lease Annual Lease Payment $ 250,000 160,000 500,000 1,000,000 25,000 Firm 5 years 12 20