2. Ravens Corp needs a new machine for its factory and plans to use the machine for 10 years. The company may either buy or lease the machine. Details about each option are provided below. Lease: Pay annual lease payments of $50,000 per year for 10 years. The first lease payment is due immediately. When leasing the machine all maintenance expenses are paid for by the leasing company at no additional cost to Ravens Corp. Buy: Pay $290,000 in cash immediately to purchase the machine. At the end of its life, the machine can be disposed of for $15,000 cash. Ravens Corp estimates that maintenance for the machine will cost $10,000 per year. Assume all maintenance costs are incurred at the end of each year. Should the Ravens Corp buy or lease the machine? Show how you reached this conclusion. 2. Ravens Corp needs a new machine for its factory and plans to use the machine for 10 years. The company may either buy or lease the machine. Details about each option are provided below. Lease: Pay annual lease payments of $50,000 per year for 10 years. The first lease payment is due immediately. When leasing the machine all maintenance expenses are paid for by the leasing company at no additional cost to Ravens Corp. Buy: Pay $290,000 in cash immediately to purchase the machine. At the end of its life, the machine can be disposed of for $15,000 cash. Ravens Corp estimates that maintenance for the machine will cost $10,000 per year. Assume all maintenance costs are incurred at the end of each year. Should the Ravens Corp buy or lease the machine? Show how you reached this conclusion