CamFootball8699 CamFootball8699

20-02-2024
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A leasing contract calls for an immediate payment of $118,000 and nine subsequent $118,000 semiannual payments at six-month intervals. What is the present value of these payments if the annual discount rate is 12%?
a) $400,000
b) $500,000
c) $600,000
d) $700,000

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