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On June 1, 2024, Lone Pine leased a building. The lease agreement calls for Lone Pine to make lease payments.of $3.638.16 each month for the

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On June 1, 2024, Lone Pine leased a building. The lease agreement calls for Lone Pine to make lease payments.of $3.638.16 each month for the next two years, with the first lease payment beginning June 30 . The company's nolmal borrowing rate is 9%. Required: 1. Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) 2. Record the lease on June 1, 2024

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