(Chap 25) What is the present value of the following monthly lease? Lease term: 15 years (i.e., 180 payments, first payment at time 0) Payment amount: $640 per month Annual discount rate: 7% (Hint - remember to convert the annual discount rate into an equivalent monthly discount rate) Enter your answer to two decimal places (e.g., $1250.00 ). Full credit: within $10.00 of the correct answer (e.g., $1240.00 - $1260.00 ). Partial credit: within $50.00 of the correct answer (e.g., $1200.00 - $1300.00 )