Marktown Mall has leases with tenants that call for payments of $97,400 at the beginning of every month. The present value of the payments has been calculated at $3,682,300, based on a discount rate of 19.2% compounded monthly. What is the term of the lease contracts?
A) 24 months
B) 33 months
C) 48 months
D) 57 months
E) 66 months
Correct Answer:
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