14.A Leasing Problem like the one we did in class: suppose that you lease a car for $1,000 down-payment plus $214 per month for 36 payments. If the car dealership sells the remaining 35 lease payments to a buyer who seeks a 5.3% annual return, then what did the lease contract sell for?

A. $7,140

B. $6,996

C. $7,108

D. $6,956

E. None of the above

15.Suppose that you got an answer of $7,200 even though this is not the correct answer. Further assume that the dealer purchased the car from Ford Motor Co. for $19,600 and that the residual value of this car in three years is expected to be $15,844. What is the implied return on the dealers investment?

A. 9.1%

B. 10.8%

C. 11.6%

D. 12.3%

E. None of the above

I know the answer for Question 14. But please tell me how to solve the Question 15. Please provide detail explanation. Thank you