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The Harris Company is the lessee on a four year lease with the following payments at the end of the year. Year 1: $14,000 year

The Harris Company is the lessee on a four year lease with the following payments at the end of the year. Year 1: $14,000 year 2: $19,000 year 3 : $ 24,000 year 4: $29,000. An appropriate discount rate is 7 percentage, yielding a present value of $ 71, 395.

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