d. $107,500 LO7 LO9 2. Essex Corporation is evaluating a lease that takes effect on March 1. The company must make eight equal payments, with the first payment due on March 1. The concept most relevant to the evaluation of the lease is a. The present value of an annuity due. b. The present value of an ordinary annuity c. The future value of an annuity due. d. The future value of an ordinary annuity