Question: Pls, help me solve this without Excel. I got this incorrect. A young graduate is trying to decide whether to lease or buy a car

Pls, help me solve this without Excel. I got this incorrect.

A young graduate is trying to decide whether to lease or buy a car for the next three years. The cash flows for each choice are shown below. (We will ignore gas, insurance, and tag fees.)

YEAR 0 1 2 3
LEASE -$4,293.00 -$3,500.00 -$3,500.00 -$3,500.00
PURCHASE -$35,772.00 0 0 $26,775.00

The graduate has a personal discount rate of 6.00%.

What is the NPV of purchasing the car and selling it after three years? (HINT: The answer will be a negative.

Answer format: currency round to 2 decimals

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