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epee Co. has a machine that cost $450,000. It is to be leased for 20 years with rent received at the beginning of each year.
epee Co. has a machine that cost $450,000. It is to be leased for 20 years with rent received at the beginning of each year. Tepee wants a return of 10%. Calculate the amount of the annual rent.
Present Value of
Period Ordinary Annuity
19 8.36492
20 8.51356
21 8.64869
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