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Section B of the Kaplan Kit
Dong is assessing a project in which the first of four annual lease payments has been agreed at $120000.This is payable in one year’s time and subsequent payments will rise by 4% per annum.Dong’s proper money cost of capital is 8%.What is the present value of Dong’s last payment that will be made in four years’ time(to the nearest $000)?
(Can I have the answer with the workings please?)
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