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24. A company is considering whether to buy an asset that has a 5 year economic life. It can be purchased for $81000 payable immediately and will have a residual value of $40000 after 5 years. Alternatively, it can be leased for 5 lease rentals of $14000 p.a. payable annually in arrears and the asset will be handed back to the lessor at the end of this 5 year contract. The cost of capital is 10% p.a. Ignore taxation. The asset should be Select an option from the list below: purchased leased Type your answer below: *