Red Sun Rising Corporation has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,650,000 for 25 years with the first payment due today. If the interest rate is 3.47 percent, what is the value of this liability today?

Red Sun Rising Corporation has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,650,000 for 25 years with the first payment due today. If the interest rate is 3.47 percent, what is the value of this liability today? Multiple Choice $27,283,256.12 $29,641,484,36 $28,935,734.74 $25,919,093.32 $28,229,985.11