For Maren, one of the most exciting aspects of landing a full-time job was being able to buy a different car! Even though she will be working in an urban area, she will need a reliable vehicle to travel to client locations outside the city. Maren is trying to decide if she should buy a new vehicle or a slightly used vehicle, or lease a new(er) vehicle. She has had her eye on a dazzling blue SUV; it stares at her every time she drives by the lot. But she’s not sure if she can justify its cost. Here are the costs and benefits she has gathered for each of these options: Buy NewBuy UsedLease Midnight-Blue SUV Monthly payment$500$350$300 plus $2 per mile if over 10,000 miles per year Time frame6 years4 years2 years WarrantyExcellent for 100,000 milesExcellent for next 40,000 miles onlyExcellent for length of lease Full coverage insurance$200 per month$150 per month$200 per month Operating cost$0.20 per mile$0.20 per mile$0.20 per mile Expected mileage per year15,00015,00015,000 Safety featuresMaximumModerateMaximum Required Identify the relevant costs associated with each of Maren’s three options. If she bases her decision solely on cost, which option will she choose? What additional qualitative considerations will come into play in her decision? If you were Maren, what choice would you make? Briefly explain