Question: please explain and show work 4. Given the following information, calculate the annual equivalent level rent. Lease Term: 20 years, Concession: 12 months free rent

please explain and show work 4. Given the following information, calculate

please explain and show work

4. Given the following information, calculate the annual equivalent level rent. Lease Term: 20 years, Concession: 12 months free rent at the beginning of the lease, Rental Space: 4,000 square feet, Rental Rate: $42.00 per square foot per year, Discount rate: 11%. Assume the rents are paid monthly at the beginning of the month. [7 points]

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