Question: Please show all work step for step. Chap 25) What is the present value of the following monthly lease? ease term: 15 years (i.e., 180

Please show all work step for step. Chap 25) What is thePlease show all work step for step.

Chap 25) What is the present value of the following monthly lease? ease term: 15 years (i.e., 180 payments, first payment at time 0 ) Payment amount: $790 per month Annual discount rate: 6% (Hint - remember to convert the annual discount rate into an equivalent monthly discount rate) Enter your answer to two decimal places (e.g., \$1250.00). Full credit: within $10.00 of the correct answer (e.g., $1240.00 - $1260.00). Partial credit: vithin $50.00 of the correct answer (e.g., $1200.00$1300.00)

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