Question: PLEASE PROVIDE THE CORRECT ANSWER WITH EXPLANATION Suppose we have a 3-year net lease with steps. Rent will be $15 per square foot the 1st

PLEASE PROVIDE THE CORRECT ANSWER WITH EXPLANATION

Suppose we have a 3-year net lease with steps. Rent will be $15 per square foot the 1st year and will increase by $2 per square foot each year for the following two years. Assuming a discount rate of 10%, which of the following is the closest to the effective rent of this lease. $14.11 O $15.20 O $16.87 $17.07

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