Please show work, how you got the answer, thanks

Please show work, how you got the answer, thanks

What is the value of this 20 year lease? The first payment, due one year from today is $2,000 and each annual payment will increase by 4%. The discount rate used to evaluate similar leases is 9%. (Round to the nearest dollar.)

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$ 24,361

 

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$ 68,000

 

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$ 39,856

 

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$ 40,000

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