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112. Lane Co. has a machine that cost 600,000. It is to be leased for 20 years with rent received at the beginning of each

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112. Lane Co. has a machine that cost 600,000. It is to be leased for 20 years with rent received at the beginning of each year. Lane wants a return of 10%. Calculate the amount of the annual rent. Present Value of Period Ordinary Annuity 19 8.36492 8.51356 21 8.64869 a. 64,068 b. 71,727 c. 89,184 d. 70,476 20

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