Suppose that your company is trying to decide whether it should buy special equipment to prepare high-quality publications itself or lease the equipment from another company. Suppose that leasing the equipment costs $240 per day. If you decide to purchase the equipment, the initial investment is $6,800, and operations will cost $70 per day. After how many days will the lease cost be the same as the purchase cost for the equipment? Assume that your company would only use this equipment for 30 days. Should your company buy the equipment or lease it?
Do your work in Excel with a chart showing the break even point between lease or buy, save and submit your Excel file as Assignment 7+your last name.