IMPORTANT: If youre going to write please make sure your writing is neat and easy to read. Please write in print (not cursive).Please give a detailed explanation for your answers. Thank you

4. Lisa Lessor has an end-cap retail unit listed for lease at $22.00/SF with 3.0% annual rent escalations over a 5-year term. Bobby Budget is interested in the unit but as a tax strategy wants to know what the terms would be if he (a) paid the entire 5-year lease in a single lump sum payment at the beginning of the lease, or (b) had flat rent through the entire term. (a) As compared to a standard lease with 3.0% annual rent escalations, calculate the equivalent lump sum payment ($/SF) based on a 9.00%/year discount rate. (b) As compared to a standard lease with 3.0% annual rent escalations, calculate the equivalent flat rent per square foot for the 5-year term at a 9.00%/year return on rent revenue. 4. Lisa Lessor has an end-cap retail unit listed for lease at $22.00/SF with 3.0% annual rent escalations over a 5-year term. Bobby Budget is interested in the unit but as a tax strategy wants to know what the terms would be if he (a) paid the entire 5-year lease in a single lump sum payment at the beginning of the lease, or (b) had flat rent through the entire term. (a) As compared to a standard lease with 3.0% annual rent escalations, calculate the equivalent lump sum payment ($/SF) based on a 9.00%/year discount rate. (b) As compared to a standard lease with 3.0% annual rent escalations, calculate the equivalent flat rent per square foot for the 5-year term at a 9.00%/year return on rent revenue