9) DMV leases a building for 20 years. The lease requires 20 annual payments of $12,000 each, with the first payment due at the end of the year. The interest rate in the lease is 10%. What is the present value of the cost of leasing the building (in other words, how much money could they put into a savings account today, earning 10% interest, so that they will have enough to make each payment as it becomes due)