R1 = Lessee’s pre-tax borrowing rate (13 per cent) R2 = Lessee’s after tax rate T = Rate of corporation tax (35 per cent) n = Delay of tax payment in years
R1 = Lessee’s pre-tax borrowing rate (13 per cent)R2 = Lessee’s after tax rate T = Rate of corporation tax (35 per cent) n = Delay of tax payment in years