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Use X% = 11% $100 per year for 15 years The Lancer Leasing Company has agreed to lease a hydraulic trencher to the Chavez Excavation Company for $20,000 a year over the next 8 years. Lease payments are to be made at the beginning of each year. Assuming that Lancer invests these payments at an annual rate of x percent, how much will it have accumulated by the end of the 8th year? The Lancer Leasing Company has agreed to lease a hydraulic trencher to the Chavez Excavation Company for $20,000 a year over the next & years. Lease payments are to be made at the beginning of each year. Assuming that Lancer invests these payments at an annual rate of X%, how much will it have accumulated by the end of the 8th year? O $301,706 O $288,314 O $275,513 O $263,279 O $240,420