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 leasing the car for three years (HINT Answer will be a NEGATIVE number) Answer format 2 decimals

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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 leasing the car for three years? (HINT: Answer will be a NEGATIVE number)

Answer format: 2 decimals

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