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A remote Scottish village currently leases a 5 MW wind turbine at an annual cost of 30,000 dollars. If the village has 7 years left

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A remote Scottish village currently leases a 5 MW wind turbine at an annual cost of 30,000 dollars. If the village has 7 years left on a 12-year lease, find the equivalent purchase price, P. 5 years ago? The effective annual interest rate is i = 2% (a) $235.755 (b) $295,500 (c) $317,260 (d) $375,020 (e) None of the above

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