ch 7 Bouldin Mining Company leases a special drilling press with annual payments of $150,000. The contract calls for rent payments at the beginning of each year for a minimum of six years. Your borrowing cost is 8%. Determine the present value of the lease payments at 8% (Hint: you are solving for PV)

A )773,801.04 B)

748,906.51

C)773,801.04

D)

701,444.38