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Okotoks Inc. is thinking about leasing an oil drum manufacturing machine which has a present value of $102,000 for six years. At present, the interest

Okotoks Inc. is thinking about leasing an oil drum manufacturing machine which has a present value of $102,000 for six years. At present, the interest rate is 4% compounded semi-annually. Required (a) Compute the lease payment assuming the payment is made at the beginning of the period. Denote the value of each input (i.e. N = X periods, I =Y%, PV = $Z, etc.). (b) Compute the lease payment assuming the payment is made at the end of the period. Denote the value of each input (i.e. N = X periods, I =Y%, PV = $Z, etc.).

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