Problem 4-51 Calculating Annuities Due You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 12 equal monthly payments at an APR of 9.8 percent compounded monthly. Because the clubs cost $1,700 retail, Pings wants the PV of the lease payments to equal $1,700. Suppose that your first payment is due immediately. What will your monthly lease payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Lease payment