Swifty Leasing purchases and then leases small aircraft to interested parties. The company is currently determining the required rental for a small aircraft that cost $950,000. If the lease is for 20 years and annual lease payments are required to be made at the end of each year, what will be the annual rental if Swifty wants to earn a return of 8%?

answer choices

a. $16,587.36

b. $101,444.52

c. $111,587.36

d. $96,759.60