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Concord Leasing purchases and leases small aircraft to amateur pilots. The company is determining the...

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Accounting

Concord Leasing purchases and leases small aircraft to amateur pilots. The company is determining the required rental for a small aircraft that cost $970000. If the lease is for twenty years and annual lease payments are required to be made at the end of each year, what will be the annual rental if Concord wants to earn a return of 12%?
$115951
$64468
$13462
$129862
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