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12) My usual cost of borrowing is 12%. I have an option to lease equipment...

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12) My usual cost of borrowing is 12%. I have an option to lease equipment for the next three years. for a monthly lease payment of $250. The first payment would be made today. What is the present value of this series of payments. 13) A bond is purchased on January 1, 2013. The bond provides payments of $4,000 on June 30 and December 31 of each year, and a lump sum payment of $100,000 on December 31,2017 . Determine the price that should be paid for the bond if a 10% rate of return is required

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