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A leasing contract calls for an immediate payment of $120,000 and nine subsequent $120,000 semiannual payments at six-month intervals. What is the PV of these

A leasing contract calls for an immediate payment of $120,000 and nine subsequent $120,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 12%?

The answer is not 936203.07

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