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What is the present value of payments discounted

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Reference no: EM132919005

Problem 1: Thomas leases a ski chalet to his best friend, Dorothy. The lease term is five years with $29500 annual payments due at the beginning of each year. What is the present value of the payments discounted at 10% per annum?

Option 1: $103392.
Option 2: $108895.
Option 3: $111829.
Option 4: $123011.

Reference no: EM132919005

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