16. Given the following information, calculate the effective monthly rent payment: lease term: 10 years; concession: first year free rent to be spread over the term of the lease; rental space: 5000 square feet; rental rate: $28.59 per square foot per year; landlord's discount rate: 10%; rents payments received at the beginning of each month. A) $4,676 B) $5,901 C) $7,081 D) $10,122