(Ignore income taxes in this problem.) Domebo Corporation has entered into a 7 year lease for a piece of equipment.The annual payment under the lease will be $3,400, with payments being made at the beginning of each year.If the discount rate is 14%, the present value of the lease payments is closest to:
A) $9,511
B) $16,623
C) $20,877
D) $23,800
Correct Answer:
Verified
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