XYZ Builders Ltd needs to acquire the use of a crane for their construction business and are…
XYZ Builders Ltd needs to acquire the use of a crane for their construction business and are considering buying or leasing a crane. The crane costs Rs. 10,00,000, and is subject to the straight-line method of depreciation to a zero salvage value at the end of 5 years. In contrast, the lease rent is Rs. 2,20,000 per year to be paid in advance each year for 5 years. XYZ Builders Ltd can raise debt at 14 percent payable in equal annual installments, each installment due at the beginning of the year. The company is in the 50 percent tax bracket. Should the XYZ lease or buy the crane?
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