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Calculate the present value of the lease payments

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On January 1, 2016, Bob's Meat market leased some equipment from another company. The lease contract calls for $12,000 annual payments for eight years, beginning on December 31, 2016.

Required: Calculate the present value of the lease payments on January 1, 2016. Assume a 6% interest rate.

Reference no: EM132418867

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