General Motors advertised three alternatives for a 25-month lease on a new Blazer: (1) zero dollars down and a lease payment of $2,522 per month for 25 months, (2) $5,000 down and $2,240 per month for 25 months, or (3) $55,000 down and no payments for 25 months. Use the present value Table B.3 in Appendix B to determine which is the best alternative (assume you have enough cash to accept any alternative and the annual interest rate is 12% compounded monthly).
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