THE NEXT FOUR (4) QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The following table outlines financial information with respect to commercial leases. For each question, lease payments are made in advance. 15. What is the present value of Lease A? (1) $215,183.67 (2) $208,767.56 (3) $227,051.43 (4) $221,182.22 16. What is the semi-annual payment for Lease B, rounded up to the next higher dollar? (1) $7,220 (2) $7,776 (3) $7,931 (4) $7,683 17. What is the nominal rate per annum, with semi-annual compounding, for Lease C ? (1) 5.14305% (2) 5.96962% (3) 4.17307% (4) 4.69686% 18. What is the required lease term for Lease D ? (1) Approximately 10 years (2) Approximately 15 years (3) Approximately 20 years (4) Approximately 25 years