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Given the following information, calculate the effective monthly rent payment: lease term: 10 years; concession: one year free rent to be spread over the term

Given the following information, calculate the effective monthly rent payment: lease term: 10 years; concession: one year free rent to be spread over the term of the lease; rental space: 5000 square feet; rental rate: $20 per square foot per year; landlord's discount rate: 10%.

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