Acme needs a new 20,000$ machine and must decide whether to lease or buy it. If the company buys the copier, they expect to sell it for 5000$ in 5 years. The bank has offered a 5-year amortizing loan of 20,000 at 8%, compounded monthly. Loan payments will be due at the end of each month. If acme leases the copier, monthly payments will be paid at the beginning of each month and the copier will be returned to the lessor at the end of 5 years. Calculate the monthly payment that i) would be made to the bank, ii) would make the lease equivalent to the loan.