$1.$ Trips Logistics, a third$-$party logistics firm that provides warehousing and other logistics services, is facing a decision regarding the amount of space to rent for the upcoming five$-$year period. The general manager has forecast that Trips Logistics will need $100,000$ sq$.$ ft$.$ of warehouse space for each of the next five years. For the purposes of this discussion, the only cost Trips Logistics faces is the cost for the warehouse. The general manager must decide whether to sign a five$-$year rent or obtain warehousing space on the spot market each year. The five$-$year rent will cost $$1$ per square foot per year, and the spot market cost is expected to be $$1\mathrm{.}20$ per square foot per year for each of the five years. The discount rate is $10\%$ per year.$$At what specific spot market rate value do the two alternatives converge, indicating a break$-$even point?