Question: Greg Norman Enterprises leases property to Tiger Woods, Inc. Because Tiger Woods, Inc. is experiencing financial difficulty, Norman agrees to receive five rents of $10,000

Greg Norman Enterprises leases property to Tiger Woods, Inc. Because Tiger Woods, Inc. is experiencing financial difficulty, Norman agrees to receive five rents of $10,000 at the end of each year, with the rents deferred 3 years. What is the present value of the five rents discounted at 12%?

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