Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The annual payment under the lease will be $2.468. The first payment will be at the end of the current year and all subsequent payments will be made at year-ends. If the discount rate is 5%, the present value of the lease payments is closest to (Ignore income taxes.): Click here to view Exhibit 128-1 and Exhibit 128-2. to determine the appropriate discount factor(s) using the tables provided. Multiple Choice $12.528 $14.503 $14,808 $11,050