Question: Determining Lease Liability Applied Inc. signed a 10-year lease for its corporate office space on January 2, 2020. The first annual payment of $140,000

Determining Lease Liability Applied Inc. signed a 10-year lease for its corporate office space on January 2, 2020. The first annual payment of $140,000

Determining Lease Liability Applied Inc. signed a 10-year lease for its corporate office space on January 2, 2020. The first annual payment of $140,000 is due immediately. Assuming an interest rate of 6%, what is the present value of the lease liability? Round answer to the nearest whole dollar. Do not use a negative sign with your answer. $

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