What is the pv of these payments if the annual discount rate

Reference no: EM133557871

A leasing contract calls for an immediate payment of $118,000 and nine subsequent $118,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 12%? (Hint: First find the semiannual rate that is equivalent to the annual rate.)

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

Reference no: EM133557871

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