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What is the book value (present value) of a lease requiring payments of $1000 at the beginning of each month for five years if the

What is the book value (present value) of a lease requiring payments of $1000 at the beginning of each month for five years if the lessee's cost of borrowing is 10% compounded semiannually?

A. $47,672.56

B. $47,286.47

C. $77,653.57

D. $77,024.68

E. $18,929.29

Multiple choice question

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