Question
Please show your work!!!!!!! I can not get this answer! Check my workCheck My Work button is now enabled Item 2 Apple Corporation is deciding
Please show your work!!!!!!! I can not get this answer!
Check my workCheck My Work button is now enabled
Item 2
Apple Corporation is deciding between two leases. The first lease is a five-year lease and requires Apple to make a $2,000 lease payment at the end of each month over the life of the lease. The second lease is also a five-year lease. It requires Apple to make a lump-sum payment of $120,000 at the end of the lease. Assume that for both leases interest accrues monthly and the appropriate annual discount rate is 4 percent. (Round your answers to 2 decimal places. Use the Excel PV Function to calculate the present value.) a. Calculate the present value of the first lease.
b. Calculate the Present Value of the second lease
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