You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a very common practice with expensive, high-tech equipment). The scanner costs $4,800,000, and it would be depreciated straight-line to zero over four years. Because of radiation contamination, it actually will be completely valueless in four years. You can lease it for $1,430,000 per year for four years. Assume that the tax rate is 21 percent. Suppose the entire $4,800,000 purchase price of the scanner is borrowed. The rate on the loan is 8 percent, and the loan will be repaid in equal annual installments. Calculate the amount of annual loan repayment. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Payment $ 1,449,219.86 Complete the schedules given below and calculate the NAL. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year 1 Amortization Total Payment Interest Payment 1,449,219.86 384,000.00 1,449,219.86 298,782.41 1,449,219.86 206,747.42 1,449,219.86 107,349.62 Beginning Balance $ 4,800,000.00 $ 3,734,780.14 2.584,342.69 1,341,870.24 2 Principal Payment 1,065,219.86 1,150,437.45 1,242,472.45 1,341,870.24 Ending Balance $ 3,734,780.14 2,584,342.69 3 1,341,870.24 0 0 4 Cash flows Total Year OCF 1 $ = $ Aftertax Loan Payment 1,368,579.86 1,386,475.56 1,405,802.90 1,426,676.44 2 $ $ Cash Flow 1,368,579.86 1,386,475.56 1,405,802.90 1,426,676.44 3 $ = $ 4 $ = $ NAL