Remaining Time: 37 minutes, 02 seconds. Question Completion Status: Moving to another question will save this response. Question 6 of 9 Question 6 1 points Save Answer A firm leases equipment under a long-term finance lease (analogous to an installment purchase) that calls for 10 annual payments of $50,000. The first payment is due at the inception of the lease. The annual rate on the lease is 3%. What is the value of the leased asset at inception of the lease? (Do not add dollar sign; do not add comma to your amount; round the answer to the whole number) Present Value of Ordinary Annuity of $1 Present Value of Annuity Due of $1 Period 3% 4% 6% 8% 3% 4% 6% 8% 8% 4 3.71710 3.62990 3.46511 3.31213 3.82861 3.77509 3.67301 3.57710 5 4.57971 4.45182 4.21236 3.99271 4.71710 4.62990 4.46511 4.31213 4.99271 5.21236 5.57971 5.45182 6 5.41719 5.24214 4.62288 4.91732 5.58238 6.41719 6.24214 5.91732 5.62288 7 5.20637 6.23028 6.00205 6.20637 7.00205 6.58238 5.74664 7.23028 7.01969 6.73274 8 6.20979 8.01969 7.20979 7.73274 6.74664 6.24689 9 7.78611 7.43533 6.80169 6.71008 8.78611 7.80169 7.36009 7.24689 8.11090 8.43533 10 8.53020 Question 6 of 9 Moving to another question will save this response. Close Window 30 FI F2 & 7 0 9 8 1 % 5 $ 4 # 3 6 2 P Y U T R E Q W