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Determining Lease Liability Applied Inc. signed a 10-year lease for its corporate office space on January 2. The first annual payment of $152,000 is due

Determining Lease Liability Applied Inc. signed a 10-year lease for its corporate office space on January 2. The first annual payment of $152,000 is due immediately. Assuming an interest rate of 5%, what is the present value of the lease liability? Round answer to the nearest whole dollar. Do not use a negative sign with your

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