Given the lease payments, terms remaining until the leases expire and discount rates should in the following table, calculate the capitalized value of each lease, assuming that lease payments are mad annually at the beginning of each year.
lease lease payment remaining term discount rate
a $40,000 12yrs 10%
b $120000 8yrs 12%
c $9000 18 yrs 14%
d $16000 3years 9%
e $47000 20yrs 11%