Question: please answer the question carefully and exactly based on the instructions A leasing contract calls for an immediate payment of $110.000 and nine subsequent $110,000

please answer the question carefully and exactly based on the instructions

A leasing contract calls for an immediate payment of $110.000 and nine subsequent $110,000 semlannual payments at six-month Intervals. What is the PV of these payments if the annual discount rate is 8% ? (Hint: First find the semlannual rate that is equivalent to the annual rate) (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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