A lease requires payments of $25,000 in arrears for 4 years; the rate implicit in the lease is 7% (4-year annuity factor = 3.387). What is the initial lease liability (in $, to the nearest $)?
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A lease requires payments of $25,000 in arrears for 4 years; the rate implicit in the lease is 7% (4-year annuity factor = 3.387). What is the initial lease liability (in $, to the nearest $)?