Spinning Wheels Co. is considering renting a new bike shop. The landlord has offered a number of alternatives for paying the rent. The company's desired rate of return is 10%. The landlord offered a 3-year lease with the rent payments as follows: $8,000 at the end of the first year, $12,000 at the end of the second year, and $14,000 at the end of the third year. Using a spreadsheet or financial calculator, calculate the present value of the rent payments over the life of the lease.
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Home » Business » Spinning Wheels Co. is considering renting a new bike shop. The landlord has offered a number of alternatives for paying the rent. The company's desired rate of return is 10%.