Suppose Clorox can lease a new computer data processing system for $980,000 per year for 5 years. Alternatively, it can purchase the system for $4.29 million. Assume Clorox has a borrowing cost of 7.4% and a tax rate of 40%, and the system will be obsolete at the end of 5 years. a. If Clorox will depreciate the computer equipment on a straight-line basis over the next 5 years, and if the lease qualifies as a true tax lease, is it better to finance the purchase of the equipment or to lease it? b. If Clorox buys the equipment, it will use accelerated depreciation for tax purposes. Specifically, suppose it can expense 20% of the purchase price immediately and can take depreciation deductions equal to 32%,19.2%,11.52%,11.52%, and 5.76% of the purchase price over the next 5 years. Compare leasing with purchasing in this case. a. If Clorox will depreciate the computer equipment on a straight-line basis over the next 5 years, and if the lease qualifies as a true tax lease, is it better to finance the purchase of the equipment or to lease it? The present value of the lease versus buy cash flows is $. (Round to the nearest dollar) (Select from the drop-down menu.) Under these assumptions, the lease is attractive than financing a purchase of the computer. b. If Clorox buys the equipment, it will use accelerated depreciation for tax purposes. Specifically, suppose it can expense 20% of the purchase price immediately and can take depreciation deductions equal to 32%,19.2%,11.52%,11.52%, and 5.76% of the purchase price over the next 5 years. Compare leasing with purchasing in this case. The present value of the lease versus buy cash flows is $ (Round to the nearest dollar) (Select from the drop-down menu.) Under these assumptions, the lease is attractive than financing a purchase of the computer