Moving to another question will save this response. Question 12 of 21 stion 12 8 points Save To finance some manufacturing tools it needs for the next 3 years, Waldrop Corporation is considering a leasing arrangement. The tools will be obsolete and worthless after 3 years. The firm will depreciate the cost of the tools on a straight-line basis over their 3-year life. It can borrow $4,000,000, the purchase price, at 8% and buy the tools, or it can make 3 equal end-of-year lease payments of $2,050,000 each and ease them. The loan obtained from the bank is a 3-year simple Interest loan, with interest paid at the end of the year. The firm's tax rate is 30%. Annual maintenance costs associated with ownership are estimated at $220.000 but this cost would be borne by the lessor if it eases. What is the net advantage to leasing INALI. In thousands (Suggestion: Delete 3 zers from dollars and work in thousands.) 596 5106 5118 $130 5138