Suppose That Instead of Leasing the Bulldozer,the Company Is Considering

Multiple Choice

Suppose that instead of leasing the bulldozer,the company is considering purchasing a bulldozer outright by borrowing the purchase price using a four-year annuity loan.The monthly loan payments for a four-year loan to purchase the Bulldozer are closest to:

A) $2,115
B) $1,825
C) $1,870
D) $1,750
E) $1,945