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The lease on a new office requires an immediate payment of $24,000 (in year 0) plus $24,000 per year at the end of each of

The lease on a new office requires an immediate payment of $24,000 (in year 0) plus $24,000 per year at the end of each of the next 10 years. At a discount rate of 14 percent, what is the present value of this stream of lease payments?

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