Time Limit: 95 min
1. A company has decided to lease a machine. Six annual payments of $ 8000 will be made with the first payment on reciept of the machine. Below is an
extract from an annuity table: (Annuity Factor 10% )Year 1-0.909; Year 2-1.736; Year 3-2.487; Year 4- 3.170; Year 5- 3.791; Year 6-4.355. what is the present
value of the lease payments at an interest rate of 10%?
a) 38328
b) 34840
c) 30328
d) 48000
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