Northwest Bank has been asked to purchase and lease to Fafner Construction equipment that costs $1,450,000. The
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Question:
Northwest Bank has been asked to purchase and lease to Fafner Construction equipment that costs $1,450,000. The lease will run for six years. If Northwest seeks a minimum return of 10 percent, what will be the required lease payment? Assume there is no residual value. Use Appendix D to answer the question. Round your answer to the nearest cent.
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