Multiple Choice
James leases a ski chalet to his best friend, Janet.The lease term is five years with $22,000 annual payments due at the beginning of each year.What is the present value of the payments discounted at 8% per annum?
A) $94,867.
B) $87,840.
C) $83,981.
D) $79,736.
Correct Answer:
Verified
Correct Answer:
Verified
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