Ceorgetown Leasing leased a car to a customer. Georgetown will receive $400a month for 48 months. (Assume the lease payments occur at the end of each month.) 1. What is the present value of the lease if the annual interest rate in the lease is 9%? Use the PV function in Excel Superscript Excel to compute the present value. 2. What is the present value of the lease if the car can likely be sold for 3,500 at the end of four years?