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The manufacturing facility at Schenectady Industries has entered into a 8 year lease for a piece of equipment. The annual payment under the lease will
The manufacturing facility at Schenectady Industries has entered into a 8 year lease for a piece of equipment. The annual payment under the lease will be $3,200, with payments being made at the beginning of each year. If the discount rate is 14%, the present value of the lease payments is closest to (Ignore income taxes.): Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. (Round your intermediate calculations to 3 decimal places.) Multiple Choice $16,922 $8,951 $19,649 $25,600 (1+r)n1 Present Value of an Annuity of $1 in Arrears; r1[1(1+r)n1]
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