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Assume a tenant has a rent starting at $11psf for a lease term of five years. The rent increases by $1.50psf each year. What is

Assume a tenant has a rent starting at $11psf for a lease term of five years. The rent increases by $1.50psf each year. What is the average rent over the term?

Group of answer choices $12.50 $14.00 $17.00 $15.50 $11.00

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