(Ignore Income Taxes in This Problem

Multiple Choice

(Ignore income taxes in this problem. ) Virani Corporation has entered into a 8 year lease for a piece of equipment.The annual payment under the lease will be $2,000,with payments being made at the beginning of each year.If the discount rate is 9%,the present value of the lease payments is closest to:

A) $8,030
B) $12,066
C) $16,000
D) $14,679