Question 38 (4 points) Your uncle just got a promotion and has decided to buy a car. He negotiates an excellent price of $33,956.04 on a new car that he plans to lease for three years. There is also Freight and PDI of $1,000 associated with the car. His payments will be $400 per month, beginning immediately, and the APR is 9%. He makes a down payment of $7,000. a. What interest rate should be used in your calculations? (1 mark) b. What is the amount of the residual at the end of the lease? (1 mark) c. Your friend has found a car that she wants to buy and the auto dealer has offered her two payment options. She can finance the purchase with a four- year car loan or lease the vehicle for four years. She has called you because she doesn't really understand the difference and has asked for your advice. From the point of view of a lessee, explain one advantage and one disadvantage of leasing for her. (2 marks)