Problem 1 The Forest Edge Course is considering the lease or purchase of a computer system and software for its superintendent. The purchase price is $12,000, while the lease payment for a five-year period is $3,000 at the beginning of each year. Assume that the expected useful life of this system is five years and that the system is expected to be worthless at the end of the five-year period. Required: 1. What is the total cash outlay for each option? 2. What additional information is required to determine which option is preferred