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A leasing contract calls for an immediate payment of $117,000 and nine subsequent $117,000 semiannual payments at six-month intervals. What is the PV of these

A leasing contract calls for an immediate payment of $117,000 and nine subsequent $117,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 10%? (Hint: First find the semiannual rate that is equivalent to the annual rate.)

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

What is the present value?

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