(Ignore income taxes in this problem.) Schaad Corporation has entered into an 8 year lease for a piece of equipment. The annual payment under the lease will be $2,500, 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:

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The Answer of (Ignore income taxes in this problem.) Schaad Corporation has entered into an 8 year lease for a piece of equipment. The annual payment under the lease will be $2,500, 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:

(Ignore Income Taxes in This Problem