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You make rental payments of $1,200 per month. What is the present value of annual rentals over a 12-month period assuming the payments are made

You make rental payments of $1,200 per month. What is the present value of annual rentals over a 12-month period assuming the payments are made at the beginning of each month and the interest rate is 9% per annum.

A. $8,593

B. 13,825

C. 9,366

D. 13,825

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