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 $6,400,000, 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 $1,950,000 per year for four years. Assume that the tax rate is 25 percent.

Suppose the entire $6,400,000 purchase price of the scanner is borrowed. The rate on the loan is 9 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.)

Complete the schedules given below and calculate the NAL. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. A negative answer should be indicated by a minus sign.)