A person needs a computer for a 3-year period that costs Rs 50,000. He has an option either to buy it or to lease it. The lease rental is Rs 20,000 annually. As per tax rules, he cannot claim...

A person needs a computer for a 3-year period that costs Rs 50,000. He has an option either to buy it or to lease it. The lease rental is Rs 20,000 annually. As per tax rules, he cannot claim depreciation, nor can he deduct interest on personal borrowing from his income. The borrowing rate is 14%. Find whether he should buy the computer or lease it.