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Differential Analysis for a Lease-or-Sell Decision Inman Construction Company is considering selling excess machinery with a book value of $280,100 (original cost of $400,600 less accumulated depreciation of $120,500) for $276,200, less a 5% brokerage commission. Alternatively, the machinery can be leased to another company for a total of $284,700 for five years, after which it is expected to have no residual value. During the period of the lease, Inman Construction Company's costs of repairs, insurance, and property tax expenses are expected to be $25,200. a. Prepare a differential analysis, dated May 25 to determine whether Inman should lease (Alternative 1) or sell (Alternative 2) the machinery. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential Analysis Lease Machinery (Alt. 1) or Sell Machinery (Alt. 2) May 25 Differential Effect on Income (Alternative 2) Lease Machinery (Alternative 1) Sell Machinery (Alternative 2) $ 18,605 X S266,095 X Revenues 284,700 X 25,200 25,200 Costs $-6,595 X 259,500 266.095 Income (Loss) Feedback Y Check My Work Subtract the lease costs from the lease revenues. Subtract the sell machinery costs from the sell machinery revenues. Determine the differential effect on income of the revenues, costs, and income (loss) by subtracting alternative 1 from alternative 2. b. On the basis of the data presented, would it be advisable to lease or sell the machinery? Explain Sell the machinery from selling is $ 6,595 X The net gain