Consider a

77?-year

lease for a

$150,000

bottling? machine, with a residual market value of

$37,500

at the end of

77

years. If the? risk-free interest rate is

6.2 %

APR with monthly? compounding, compute the monthly lease payment in a perfect market for the following? leases:

a. A fair market value lease.

b. A

$ 1.00

out lease.c. A fixed price lease with an

$19,000

final price.

a. A fair market value lease.

The present value of the lease payments is

?