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In order to induce a tenant to move into your shopping center, you must pay a $1.1 million tenant improvement allowance to fit out their

In order to induce a tenant to move into your shopping center, you must pay a $1.1 million tenant improvement allowance to fit out their space. The tenant agrees to lease 18,000 square feet of space at $45 per square foot. Lease term is ten years. Rate of Return is 10%

What is the effective rent?

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