Question: epee Co. has a machine that cost $450,000. It is to be leased for 20 years with rent received at the beginning of each year.

epee Co. has a machine that cost $450,000. It is to be leased for 20 years with rent received at the beginning of each year. Tepee wants a return of 10%. Calculate the amount of the annual rent.

Present Value of

Period Ordinary Annuity

19 8.36492

20 8.51356

21 8.64869

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