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Question 17: (Ignore income taxes in this problem.) Schaad Corporation has entered into an 8 year lease for a piece of equipment. The annual payment

Question 17:

(Ignore income taxes in this problem.) Schaad Corporation has entered into an 8 year lease for a piece of equipment. The annual payment under the lease will be $2,500, with payments being made at the beginning of each year.

Required: If the discount rate is 14%, what is the present value of the lease payments?

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