A building owner charges net rent of $20 in the first year, $21 in the second year,
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Question:
A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in the third year, but is providing three months of free rent in the first year as a concession. Using a 10percent discount rate, what is the effective rent over the three years?
$19.11
$21.73
$20.94
$17.28
Expert Answer:
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