Red Sun Rising Corporation has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $2,200,000 for 30 years with the first payment due today. If the interest rate is 3.69 percent, what is the value of this liability today?
Multiple Choice
$40,974,393.58
$39,516,244.17
$43,023,113.26
$41,998,753.42
$37,540,431.96