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A building owner charges net rent of $27 in the first year, $28 in the second year, and $29 in the third year. Using an

A building owner charges net rent of $27 in the first year, $28 in the second year, and $29 in the third year. Using an 11.00% discount rate, what is the effective annual rent over the three years? a. $29.00 b. $27.88 c. $27.93 d. $28.00

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