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Employ Gordon's Model and assume you will get 20 rental payments paid over 20 years at the beginning of each year. Initially, the rent equals

Employ Gordon's Model and assume you will get 20 rental payments paid over 20 years at the beginning of each year. Initially, the rent equals R=$12; but it will grow at a rate of 1% per year. The NPV of this income stream equals $17.02. What is your discount rate? Provide your answer as percentage with two decimals, e.g., 1.23% (or 0.0123)

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