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39) You can buy a leasehold position that will pay you $100,000 per year for the next 12 years. You are aware of the fact

39) You can buy a leasehold position that will pay you $100,000 per year for the next 12 years. You are aware of the fact that the typical investor seeks a 10% yield (discount rate) on this type of investment. Market cap rates are currently 8%. How much is this position worth today?

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