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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 $2,200,000 for 30

Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $2,200,000 for 30 years with the first payment due today. If the interest rate is 3.69 percent, what is the value of this liability today?

Multiple Choice

$122,481.28

$41,301.28

$118,122.55

$79,711.91

$39,831.49

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