Rodriquez Co. is considering leasing some equipment that costs $58,000 and has a life of four years. The company has a tax rate of 21 percent and a cost of borrowed funds of 7.5 percent. If the annual lease payment is $15,600, what is the amount of the aftertax lease payment?

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The aftertax lease payment is calculated by multiplying the lease payment by (1 - tax rate). So, $15,600 * (1 - 0.21) = $12,324.