What residual value must the lessor recover to break even

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Reference no: EM131026095

Suppose the risk-free interest rate is 6.3% APR with monthly compounding. If a $1.9 million MRI machine can be leased for seven years for $24,000 per month, what residual value must the lessor recover to break even in a perfect market with no risk?

The residual value must be $......................(Round to the nearest dollar)

Reference no: EM131026095

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