Red Sun Rising Corporation has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $2,000,000 for 10 years with the first payment due today. If the interest rate is 3.61 percent, what is the value of this liability today?

Multiple Choice

$17,566,976.62


$15,714,301.79


$17,138,513.78


$17,995,439.46


$16,541,370.31