to finance some manufacturing tools it needs for the next 3 years, waldrop corporation is considering a leasing arrangement. the tools will be obsolete and worthless after 3 years. the firm will depreciate the cost of the tools on a straight-line basis over their 3-year life. it can borrow $4,800, the purchase price, at 10% and buy the tools, or it can make 3 equal end-of-year lease payments of $2,100 each and lease them. the loan obtained from the bank is a 3-year simple interest loan, with interest paid at the end of the year. the firm's tax rate is 40%. annual maintenance costs associated with ownership are estimated at $240. what is the the year 1 cost of owning? [hint: be sure to consider interest expenses, maintenance costs, and deprecation.] a. $1072 b. -$80 c. $1168 d. $208