Principal Components is considering whether to lease or purchase some specialized equipment. The capital budgeting analysis indicating the equipment should be secured already has not been completed. The equipment has a five$-$year economic and tax life, and the company uses a straight$-$line depreciation method. The equipment costs $$1,000,000$ if purchased or it can be leased for five$-$years at $$280,000$ per year. The first lease payment is payable in advance. The equipment$$s salvage value is estimated to be $$100,000.$ Revenue is expected to be $$350,000.$ Given that the firm has a marginal tax rate of $30\%$ and an after$-$tax weighted average cost of capital of $10\%,$ Determine the net advantage of leasing. Should the firm lease or purchase? Would the NAL be higher$/$lower if you used the after$-$tax cost of debt?