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K Fancher Financing leases airplanes to airline companies. Fancher has just signed a 9-year lease agreement that requires annual lease payments of $1,300,000 at the
K Fancher Financing leases airplanes to airline companies. Fancher has just signed a 9-year lease agreement that requires annual lease payments of $1,300,000 at the end of each year. What is the present value of the lease using a 8% interest rate per year? (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of Annuity of $1 table.) The present value of the lease is $ (Round your answer to the nearest whole dollar.)
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