Bob enters into a 12-year lease requiring year-end payments of $10,000 each year for 12...
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Accounting
Bob enters into a 12-year lease requiring year-end payments of $10,000 each year for 12 years. Bills borrowing rate is 6% compounded annually. What is the present value of the lease payments? (answers rounded)
Period PV of $1 at 6% PV of $1 at an AD of 6% PV of $1 at an OA of 6%
12 .49697 8.88687 8.38384
Multiple Choice
-
$83,838
-
$4,970
-
$88,869
-
$20,122
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