Your local auto store is willing to lease you a new car for $254 a month for 66 months. Payments are due on the first day of each month starting with the day you sign the lease. Using an APR of 8.50% compounded semi-annually, what is the present value of the lease?

Question 1 options:

$12,822

$13,160

$13,497

$13,834

$14,172