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On January 1,2020, Bobs Meat Market leased some equipment from another company. The lease contract...

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Accounting

On January 1,2020, Bobs Meat Market leased some equipment from another company. The lease contract calls for $12,000 annual payments for eight years, beginning on December 31,2020.
Calculate the present value of the lease payments on January 1,2020. Assume a 6% interest rate.

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