Calculate the amount of the annual rent, accounting homework help
Crane Company has a machine that cost $600000. It is to be leased for 20 years with rent received at the beginning of each year. Lane wants a return of 7%. Calculate the amount of the annual rent.
|
Periods |
Present Value of |
|
|
19 |
10.33560 |
|
|
20 |
10.59401 |
|
|
21 |
10.83553 |
|
A. |
|
B. |
|
C. |
|
D. |
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