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Your client, Albert Lee Leasing Company, is preparing a contract to lease a machine to...

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Accounting

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Your client, Albert Lee Leasing Company, is preparing a contract to lease a machine to Souvenirs Corporation for a period of 25 years. Lee has an investment cost of $429,000 in the machine, which has a useful life of 25 years and no salvage value at the end of that time. Your client is interested in earning an 12% return on its investment and has agreed to accept 25 equal rental payments at the end of each of the next 25 years. Click here to view factor tables. You are requested to provide Lee with the amount of each of the 25 rental payments that will yield an 12% return on investment. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Amount of each rental payments

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