In 2016, Google rented 1000 acres of a historicCalifornia
Chapter 6, Problem 6.9(choose chapter or problem)
In 2016, Google rented 1000 acres of a historicCalifornia airbase in the San Francisco Bay Areafor $1.16 billion via a 60-year lease. Annual M&Ois expected to be $6.3 million. In addition, Google will refurbish three hangars at a cost of $2.6 million4 years from now. Assuming the $1.16 billionrepresents the present worth of only the lease,what is the equivalent AW of the transaction overthe 60-year period at an interest rate of 15% peryear?
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