Question: | Leasing Case APP, a tax-exempt institution, needs a new server to automate and integrate its various functions. APP can borrow funds at 8% and

| Leasing Case APP, a tax-exempt institution, needs a new server to automate and integrate its various functions. APP can borrow funds at 8% and buy it for $500,000. Alternatively, Master Leasing Inc. offers to lease a server to APP on a five-year lease. APP will pay Master $105,000 every year at the beginning of each year. The server has a salvage value of $20,000 after 5 years.Should APP buy or lease

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