dule $5$: Long$-$Ierm Finance Assignment

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Problem $21-6$ MACRS Depreciation and Leasing

You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner $($leasing is a common practice with expensive, high$-$tech equipment$).$ The scanner costs $$7,200,000,$ Because of radiation contamination, it will actually be completely valueless in four years. You can lease it for $$2,115,000$ per year for four years. Assume that the tax rate is $24$ percent. You can borrow at $8$ percent before taxes. Assume that the scanner will be depreciated as three$-$year property under the MACRS depreciation. What is the NAL of the lease? $($A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

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NAL