Sutton Corporation, which has a zero tax rate due to tax loss carry-forwards,is considering a 5-year, $10,000,000 bank loan to finance service…

Sutton Corporation, which has a zero tax rate due to tax loss carry-forwards,is considering a 5-year, $10,000,000 bank loan to finance service equipment.The loan has an interest rate of 10 percent and would be amortized over fiveyears, with five end-of-year payments. Sutton can also lease the equipmentfor 5 end-of-year payments of $2,700,000 each. How much larger or smalleris the bank loan payment than the lease payment? Note: Subtract the loanpayment from the lease payment

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