Problem 6-9 is a financial executive with McDowell Enterprises. Although James Kirk has not had any formal training in finance or accounting, he has a "good sense" sales) to a large operation ($45,000,000 in sales). With the business growing for numbers and has helped the company grow from a very small steadily, however, the company needs to make a number of difficult financial decisions in which James Kirk feels a little "over his head." He therefore has decided to hire a new employee with "numbers" expertise to help him. As a basis for determining whom to answers to questions relating to the following situations he has encountered recently. Here are the questions employ, he has decided to ask each prospective employee to prepare ses negotiated and closed a long-term lease contract for newly constructed truck terminals and freight storage facilities. The buildings on land owned by the company. On January 1, 2017, McDowell took possession of the leased property. The 20-year lease is effective for the period were constructed January 1, 2017, through December 31, 2036. Advance rental 10 years of the lea all the leased facilities for $1 on December 31, 2036. At the time the lease was negotiated, the fair approximately $7,200,000. If the company had borrowed the money to purchase the facilities, it would have had to pay 10% interest. payments of $800,000 are payable to the lessor (owner of facilities) on January 1 of each of the first se term. Advance payments of $400,000 are due on January 1 for each of the last 10 years of the lease term. McDowell has an option to purchase value of the truck terminals and freight storage facilities was Compute the present value of lease vs purchase. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places,e.g 458,581.) Lease Purchase Present value Should the company have purchased rather than leased the facilities? McDowell Enterprises should : the facilities