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Part 2: Leases On January 1, 2022JK Exercise Gear enters into a lease agreement to rent retail space in Downtown Tampa. The lease will be

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Part 2: Leases On January 1, 2022JK Exercise Gear enters into a lease agreement to rent retail space in Downtown Tampa. The lease will be for 5 years and requires a monthly payment of $2,150 at the end of each month. The cost of borrowing for JK Exercise Gear is 6%. 1. What is the present value of future lease payments? (Hint: You may use Excel to calculate the PV)

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