A t,000 square foot affice space it leased at $14.00 per square foot during the firat year with 51.00 slep-up provisiona nech of the folowing years. The leese is gross. free rent at the beggining of the lease term (Year 1); if the lease term is throe yearn and the discount rate is 1140 , what is the eflecive rent per angare foct? (From the landionds perspective) 59.53 510,45 510.00 $15.00 511.73= $16.00