Exercise $8-40$: $8-40.$ Your company must obtain some laser measurement devices for the next six years and is considering leasing. You have been directed to perform an actual$-$dollar after$-$tax study of the leasing approach. The pertinent information for the study is as follows: Lease costs: First year, $\backslash (\backslash$$ $80,000\backslash )$; second year, $\backslash (\backslash$$ $60,000\backslash )$; third through sixth years, $\backslash (\backslash$$ $50,000\backslash )$ per year. Assume that a six$-$year contract has been offered by the lessor that fixes these costs over the six$-$year period. Other costs $($not covered under contract$)$: $\backslash (\backslash$$ $4,000\backslash )$ in year$-$zero dollars, and estimated to increase $\backslash (10\backslash \%\backslash )$ each year. Effective income tax rate: $\backslash (25\backslash \%\backslash ).(8\mathrm{.}7)$ a$.$ Develop the actual$-$dollar ATCF for the leasing alternative. b$.$ If the real MARR $\backslash (\backslash$left$($i$\_\{$r$\}\backslash$right$)\backslash )$ after taxes is $\backslash (5\backslash \%\backslash )$ per year and the annual inflation rate $\backslash (($f$)\backslash )$ is $\backslash (9\mathrm{.}524\backslash \%\backslash )$ per year, what is the actual$-$dollar after$-$tax equivalent annual cost for the leasing alternative?