Q1) Medarex is thinking of the lease of electronic welder costing $210,000 from Key Leasing. Period of lease will be 6 years. Welder will be depreciated under MACRS rules for 5-year class asset. Medarex's marginal tax rate is 40%. Annual beginning of year lease payments will be $50,000. Estimated salvage value is zero. If Medarex's after tax cost of borrowing is 15%, calculate the net advantage to leasing. (Problem requires MARCS tables.)