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Emerson Corporation is trying to decide whether to lease or purchase a piece of equipment needed for the next 5 years. The qulpment would cost $511,000 to purchase, and maintenance costs would be $21,200 per year. After 5 years, Emerson estimates it could sell the equipment for $101,200. If Emerson leases the equipment, it would pay $151,800 each year, which would include all naintenance costs. Emerson's cost of capital is 13\%. (Future Value of \$1, Present Value of \$1. Future Value Annuity of \$1, Present talue Annulty of \$1) lote: Use appropriate factor from the PV tables. equired: What is the net present value of the cost of purchasing the equipment? What is the net present value of the cost of leasing the equipment? Based on financial factors, should Emerson purchase or lease the equipment? Complete this question by entering your answers in the tabs below. What is the net present value of the cost of purchasing the equipment? Note: Round your final answer to the nearest dollar amount