11. Suppose the purchase price of a H1200 supercomputer is $85000, its residual value in three years is certain to be $20 000, and there is no risk that the lessee will default on the lease. Lease payments are made at the beginning of each payment period. Assume that capital markets are perfect and the risk-free interest rate is 4.8% APR with monthly compounding. The monthly lease payments for a three-year $1.00 out lease of the H1200 are closest to:

Select one:

a. $2014

b. $2540

c. $2530

d. $2023