An owner of the ATRIUM Tower Office Building is currently negotiating a five-year lease with ACME Consolidated Corporation for 20,000 rentable square feet of office space. ACME would like a base rent of $19 per square foot (PSF) with step-ups of $1 per year beginning one year from now. Required: a. What is the effective rent per square foot under the above lease terms? (Assume a 10% discount rate.) b. The owner of ATRIUM believes that base rent of $19 PSF in (a) is too low and wants to raise that amount to $23 with the same $1 step-ups. However, now ATRIUM would provide ACME a $51,000 moving allowance and $110,000 in tenant improvements (TIs). What would be the effect rent per square foot under this alternative to ATRIUM? c. ACME informs ATRIUM that it is willing to consider a $22 PSF with the $1 annual stepups. However, under this proposal, ACME would require ATRIUM to buyout the one year remaining on its existing lease in another' building. That lease is $14 PSF for 20,000 SF per year. If ATRIUM buys out ACME's old lease, ACME will not require a moving allowance or Tls. What would be the effective rent per square foot of this proposal to ATRIUM?