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Consider the following information: A company pays base rent of $ 1 8 . 4 5 s f in Year 1 of their lease. Rent

Consider the following information:
A company pays base rent of $18.45sf in Year 1 of their lease.
Rent escalates by $0.50? sf per year.
Expenses are expected to be $9.30? sf in Year 1 and grow at a constant rate of 4% per year.
The tenant has a modified gross lease and they pay for utilities. Utilities in Year 1 are estimated at $2.50? sf and grow at the same rate as other expenses.
The lease is a 6-year lease and the discount rate is 13%
What is the effective rent (psf) for the lease? Enter your answer as a number with 2 decimal places. Don't include the "$" sign or enter anything but numbers with decimal.
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