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Your company just signed a 20-year lease for a new office

Your company just signed a 20-year lease for a new office. The lease requires that your firm pay $1,000 at the end of each month over the life of the lease. If the current annual rate is 9 percent, what is the present value of this annuity stream?

A. $11,111

B. $9,129

C. $111,145

D. 109,543

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Financial Management: Your company just signed a 20-year lease for a new office

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