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Provide the present value of the following lease for 49er Company. JC leases a car from Queen City Bank on January 1, 2020. The lease

Provide the present value of the following lease for 49er Company.

JC leases a car from Queen City Bank on January 1, 2020. The lease calls for 72 monthly payments of $350 at the beginning of each month. The implicit rate in the lease is 5% and JC has not guaranteed any residual value on the lease and will return the car to Queen city at the end of the lease.

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