I'm using excel, how would I type in the formula to solve for section b. PV cost of leasing?

A B C D E F G H ANSWER Pre-tax interest rat 10% MACRS Tax rate 40% Year 1 Year 2 Year 3 Year 4 After-tax interest r 6% =C37*(1-C38) 33% 45% 15% 7% Lease payment $260,000 $330,000 $450,000 $150,000 $70,000 System purchase pi $1,000,000 $670,000 $220,000 $70,000 $0 2 Maintenance $20,000 3 Residual value $200,000 5 a. Cost of owning 16 Year 0 Year 1 Year 2 Year 3 Year 4 48 Net purchase price $1,000,000 49 Maintenance cost $20,000 $20,000 $20.000 $20.000 $20.000 50 Maintenance tax savings $8,000 $8,000 $8,000 $8,000 $8,000 51 Depreciation tax savings $132,000 $180,000 $60.000 $28.000 52 Residual value $200,000 53 Tax on residual value $80.000 54 Net cash flow $1,012,000 -$120,000 -$168.000 -$48,000 -$136,000 55 PV cost of owning $567.214 56 57 b. Cost of leasing Year 0 Year 1 Year2 Year 3 58 59 Lease payment SO $260,000 $260,000 $260.000 60 Lease tax savings SO $104.000 $104 000 $104.000 61 Net cash flow SO $156,000 $156,000 5156,000 62 PV cost of leasing 63