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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

Answer & Explanation Solved by verified expert
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