Multiple Choice
James leases a ski chalet to his best friend, Janet. The lease term is five years with $20,000 annual payments due at the beginning of each year. What is the present value of the payments discounted at 8% per annum?
A) $86,243.
B) $79,855.
C) $76,346.
D) $72,488.
Correct Answer:
Verified
Correct Answer:
Verified
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