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Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,050,000 for 15

Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,050,000 for 15 years with the first payment due today. If the interest rate is 3.23 percent, what is the value of this liability today?

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