Return to question 5 Problem 2-38 Compounding intervals 4 points A leasing contract calls for an immediate payment of $100,000 and nine subsequent $100,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 8%? (hint: first find the semiannual rate that is equivalent to the annual rate) (Do not round intermediate calculations. Round your answer to 2 decimal places.) 03:28:32 X Answer is complete but not entirely correct. Present value $ 843,533.16 X