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A leasing contract calls for an immediate payment of $108,000 and nine subsequent $108,000 semiannual payments at six-month ntervals. What is the PV of these

image text in transcribed A leasing contract calls for an immediate payment of $108,000 and nine subsequent $108,000 semiannual payments at six-month ntervals. What is the PV of these payments if the annual discount rate is 12% ? (Hint: First find the semiannual rate that is equivalent to he annual rate.) Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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