After deciding to buy a new car, you can either lease the car or purchase it on a four-year loan. The car you wish to buy costs $40,000. The dealer has a special leasing arrangement where you pay $109 today and $509 per month for the next four years. If you purchase the car, you will pay it off in monthly payments over the next four years at an APR of 7 percent. You believe you will be able to sell the car for $28,000 in four years. a. What is the present value of leasing the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) b. What is the present value of purchasing the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) c. What break-even resale price in four years would make you indifferent between buying and leasing? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)