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Banana & Republic clothing store is relocating to South Beach Plaza shopping center. The building owner is offering the following terms for the square feet
"Banana \& Republic" clothing store is relocating to South Beach Plaza shopping center. The building owner is offering the following terms for the square feet of rentable space that the prospective tenant needs: - The single-net lease would be for 5 years. - The base rent in the first year will be $21.00 per square foot per year. - After the first year, it will follow annual step-up increases in \$3.4 increments. If the building owner's required rate of return is 17% per year, what would be the building owner's effective net rent per square foot per year? Do not use $ sign. Round your answer to 2 decimal places. Increase your decimal places to 6 or even higher for any intermediate calculations, or solve the problem in Excel with correct cell referencing to avoid rounding. "Banana \& Republic" clothing store is relocating to South Beach Plaza shopping center. The building owner is offering the following terms for the square feet of rentable space that the prospective tenant needs: - The single-net lease would be for 5 years. - The base rent in the first year will be $21.00 per square foot per year. - After the first year, it will follow annual step-up increases in \$3.4 increments. If the building owner's required rate of return is 17% per year, what would be the building owner's effective net rent per square foot per year? Do not use $ sign. Round your answer to 2 decimal places. Increase your decimal places to 6 or even higher for any intermediate calculations, or solve the problem in Excel with correct cell referencing to avoid rounding
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