please ANSWER ASAP

Should Hubert lease or purchase? Hubert is considering the purchase of a Mini Cooper and has negotiated a final price of $23,450. He's trying to decide whether to lease or purchase the vehicle If he leases, he'll have to pay a $500 security deposit, a capital cost reduction (down payment) equal to 10% of the vehicle's cost, and monthly payments of $318 over the four-year term of the closed-end lease. The Mini Cooper will have a residual value of $9,380. . On the other hand, if he buys the Mini Cooper, he'll have to make a 10% down payment, pay sales tax equal to 5% of the vehicle's price, and make monthly payments of $477 on a four-year loan that charges 4% Interest. . Be aware that funds used as down payments and security deposits incur an opportunity cost of 4%, as they could have earned Interest for Hubert over the period of the lease or loan. Use the automobile lease-versus-purchase analysis worksheet that follows to determine the total cost of both the lease and the purchase strategy for Hubert. To complete the worksheet, enter the appropriate values in their corresponding blanks. (Note: Round each value to the nearest whole dollar.) ssignment: Chapter 05 Making Automobile and Housing Decisions Amount ($) LEASE 1a. 1b. 500 1c. 2. Item Description Initial Payment Capital Cost Reduction Security Deposit Total Initial Payment Number of Months in Lease Monthly Lease Payment Total Payments over Lease Term Opportunity Cost of Initial Payment Estimated End-of-Term Charges Total Cost of Leasing 3. 477 4. 5. 6. 6 0.00 7. Amount ($) PURCHASE 8. 9. 10. 11. Item Description Purchase Price Down Payment Sales Tax on Purchase Monthly Loan Payment Total Payments over Term of Loan Opportunity Cost of Down Payment Estimated Vehicle Value at End of Loan Total Cost of Purchase 12 13. 14. 15. $ Based on this analysis, Hubert should: Use the lease to purchase the Mini Cooper, because its total cost is less than the total cost of a loan transaction Use the lease to purchase the Mini Cooper, because its total cost is greater than the total cost of a purchase transaction Use the loan to purchase the Mini Cooper, because its total cost is less than the total cost of a lease transaction