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What should be the amount of each semiannual lease payment

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Kansas Kites is preparing a contract to lease a machine to Jabo Company for a period of 10 years. Kansas Kites purchased the machine for $1,500,000 and would like to earn a return of 5% on its investment. If the contract is to provide for 20 semiannual payments beginning on the date the lease is signed, what should be the amount of each semiannual lease payment?

Reference no: EM131793056

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