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On September 1 , 2 0 2 4 , a company decides to lease office space in a building. The building s owner offers the

On September 1,2024, a company decides to lease office space in a building. The buildings owner offers the company the following options, with the first monthly payment beginning September 30,2024:
1. Sign a two-year lease with monthly payments of $3,000.
2. Sign a three-year lease with monthly payments of $2,750.
3. Sign a four-year lease with monthly payments of $2,500.
Required:
1. For each option, calculate the present value of the lease payments using an interest rate of 6%.(Hint: Use a financial calculator or Excel.)
2. Record each lease on September 1,2024.
3. For which option is the lease payable recorded for the highest amount?

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