A property owner is evaluating the following alternatives for leasing space in his office buliding for the next five years: Net lease with CPI adjustments. The rent will be $17 per square foot the first year. After the first year, the rent will be increased by the amount of any increase in the CPI. The CPI is expected to increase 3 percent per year: Calculate the effective rent to the owner (after expenses) for the lease using a 10 percent discount rate