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Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the company agreed to pay rent

Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the company agreed to pay rent of $11,500 per month for the next 8 years with the first payment due today. If the APR is 6.24 percent compounded monthly, what is the value of the payments today?

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