A subcontractor needs a crane for one year to complete a job. The following options are available:
#1 Purchase crane for $65,000 sell for $30,000 when project is complete.
#2 Lease the crane for $30,500 for one year.
#3 Lease the crane for $1635 per month.
#4 Rent the crane for $5537 per quarter.
Which results in the lowest cost to the contractor?