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14. Lexair Industrial Supply borrowed $798,400 today to purchase some new equipment. The firm financed this amount for 4 years at 8.25 percent interest. What

14. Lexair Industrial Supply borrowed $798,400 today to purchase some new equipment. The firm financed this amount for 4 years at 8.25 percent interest. What is the amount of each quarterly payment?

a $53,408.02

b $56,773.43

c $52,408.02

d $59,093.78

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