Catt CoHas a Machine That Cost $200,000 A)$21,356
B)$23,909
C)$29,728
D)$23,492

Multiple Choice

Catt Co.has a machine that cost $200,000.It is to be leased for 20 years with rent received at the beginning of each year.Catt wants a return of 10%.Calculate the amount of the annual rent. $$\begin{array}{l}\begin{array} { c c } &\text { Present Value of }\\\text { Period } & \text { Ordinary Annuity } \\19 & 8.36492 \\20 & 8.51356 \\21 & 8.64869\end{array}\end{array}$$

A) $21,356
B) $23,909
C) $29,728
D) $23,492