Question: Use the following data to answer questions 2 and 3. You plan to lease an office building for 10 years. You have a choice of

Use the following data to answer questions 2 and 3. You plan to lease an office building for 10 years. You have a choice of three types of rent payments. 1. Alump sum cash payment of $80,000 2. 10 annual payments of $10,000 each, the first occurring immediately 3. 120 monthly payments of $800 each, the first occurring immediately. (Use a spreadsheet to calculate this part). Question 2 15 pts Question 2: Assume an effective annual discount rate of 5%, which option would you choose to minimize your expense? Option 1: Lump sum cash payment Option 2: 10 annual yearly payments Option 3: 120 monthly payments. Question 3: Based on the correct answer from question 2 what is the present value of this option? Round your answer to the nearest whole dollar without $ sign (example $5,436.75 enter as 5,437)

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