The DASH80 Company has just sold non-strategic assets for $2 million for the purpose of self-financing a capital expansion program that may include purchase of a piece of manufacturing equipment for $1.5 million. The company’s tax rate is 30%, its required rate of return is 11%, the estimated salvage or recovery value of the equipment at the end of 3 years is $300,000. Given the high-tech nature of its industry, the conservative approach is to use a depreciable life of 3 years on a straight line basis. The alternative is to lease the same piece of equipment for $350,000 over the same period. Should DASH 80 lease or buy? Show your work to justify your decision or recommendation.