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Novak Co. has a machine that cost $710000. It is to be leased for 20 years with rent received at the beginning of each year.

Novak Co. has a machine that cost $710000. It is to be leased for 20 years with rent received at the beginning of each year. Novak wants a return of 10%. Calculate the amount of the annual rent.

	Periods	Present Value of Ordinary Annuity
	19	8.36492
	20	8.51356
	21	8.64869

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