please show work how you got answer thanks
What is the value of this 20 year lease? The first payment, due one year from today is $2,000 and each annual payment will increase by 4%. The discount rate used to evaluate similar leases is 9%. (Round to the nearest dollar.)
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$ 24,361 |
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$ 68,000 |
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$ 39,856 |
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$ 40,000 |
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