1.		Calculate the present value of the future cash flows for the advance rental payments of $750,000 for the period from January 1, 2020, through December 31, 2029. Hint: If using factor tables, because the lease payments are due at the beginning of each year, use the PV.2 regular annuity table for nine years and add the first payment of January 1, 2020, in your calculation.		$
2.		Calculate the present value of the future cash flows for the advance rental payments of $376,000 for the 10-year period beginning January 1, 2030. Hint: If using factor tables, as in the first step, use the PV.2 regular annuity table for 10 years for the present value at January 1, 2029.		$
3.		Take the calculation result of step 2 and arrive at the present value of that amount at January 1, 2020, by using nine years in your discount calculation.		$
4.		Add the result of the first and third steps to arrive at the total cost of leasing.