Let's suppose that you have determined that the present value of a 5 -year lease contract for a 10,000 sq.ft. Class C office building is $565,390. Given a discount rate of 9 percent, determine the effective rent in dollars per square foot per year if rent payments are assumed to be settled at the beginning of the month. a. $11.65 per sq. ft. per year b. $13.98 per sq. ft. per year c. $14.08 per sq. ft. per year d. $56.34 per sq. ft. per year