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Darren is looking to lease a diner unit from DinerDash Inc. The lease terms states that Darren must pay $1,300 every three months for 5

Darren is looking to lease a diner unit from DinerDash Inc. The lease terms states that Darren must pay $1,300 every three months for 5 years; the diner unit is expected to last 9 years. The fair value of the property is $20,000, and the annual interest rate is 16%. What is the present value of the lease payments? Round your answer to the nearest whole number.

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