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Calculate the present value of ashly lease payments

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Reference no: EM132586363

On January 1, 2019, Ashly Farms leased a hay baler from Agrico Company. The lease requires Ashly to make $3,000 payments on January 1 of each year for 5 years beginning in 2019. The interest rate is 12%.

Question 1: Calculate the present value of Ashly's lease payments as of January 1, 2019.

Reference no: EM132586363

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