Dunbar Corporation can purchase an asset for $32,000; the asset will be worthless after 13 years. Alternatively, it coul

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Dunbar Corporation can purchase an asset for $32,000; the asset
will be worthless after 13 years. Alternatively, it could lease the
asset for 13 years with an annual lease payment of $3,874 paid at
the end of each year. The firm’s cost of debt is 9%. The IRS
classifies the lease as a non-tax-oriented lease. What is the net
advantage to leasing? Enter your answer as a positive value. Do not
round intermediate calculations. Round your answer to the nearest
cent.