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Calculate the effective rent for the following 5-year lease using a discount rate of 11%: Net lease with CPI adjustments . The rent will be

Calculate the effective rent for the following 5-year lease using a discount rate of 11%:

Net lease with CPI adjustments. The rent will be $18 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 7 percent per year.

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