Business, 07.03.2020 02:57 Dhejxbdbbxbdbbx

Lane Co. has a machine that cost $800,000. It is to be leased for 20 years with rent received at the beginning of each year. Lane wants a return of 10%. Calculate the amount of the annual rent.

Period Present Value of Ordinary Annuity

19 8.36492
20 8.51356
21 8.64869
Question options:

a) $95,636
b) $93,968
c) $118,912
d) $85,425

Answers: 1

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Lane Co. has a machine that cost $800,000. It is to be leased for 20 years with rent received at the...