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Calculate the present value of future minimum lease payments

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Problem 1: Calculate the present value of the future minimum lease payments on January 2, 2010. Assume that the implicit lease rate in these leases is 7% ??

2010 $50,651
2011 $47,107
2012 $42,345
2013 $35,469
2014 $31,319
2015 $25,229
2016 $25,229
2017 $25,229

Reference no: EM133010578

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