You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner. The scanner costs $$3\mathrm{.}5$ million and it would be depreciated straight$-$line to zero over four years. Because of radiation contamination, it will actually be completely valueless in four years. You can lease it for $$1,025,000$ per year for four in four years. Assume the tax rate is $22$ percent. You can borrow at $7\mathrm{.}5$ per cent before taxes. What is the net advantage to leasing from your company$$s standpoint?

I want to solve it manually, I cannot use Excel