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12. A firm needs some machinery which it can lease from the manufacturer for...

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Finance

12.

A firm needs some machinery which it can lease from the manufacturer for a six-year period by making lease payments of $7,000 at the end of each month. If the interest rate for the firm is 7% p.a., with monthly compounding, the present value of the lease payments is closest to:

Group of answer choices

$493,868.

$397,574.

$410,581.

$400,389.

Answer & Explanation Solved by verified expert
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