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Present value of the lease payments

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Question 1: (1 point)
(Ignore income taxes in this problem.) Domebo Corporation has entered into a 7 year lease for a piece of equipment. The annual payment under the lease will be $4,300, with payments being made at the beginning of each year. If the discount rate is 8%, the present value of the lease payments is closest to: (Round "PV Factor" to 3 decimal places.)

$28,479
$34,400
$24,179
$38,700

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The solution explains how to calculate the present value of the lease payments .

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