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JLP Enterprises, Inc. owns a small shopping center and it has just signed a fiver-year, triple-net lease for an out parcel with an auto parts

JLP Enterprises, Inc. owns a small shopping center and it has just signed a fiver-year, triple-net lease for an out parcel with an auto parts retailer that requires annual rent payments of $12,500 at the beginning of each year. If the landlords discount rate on this lease is 9 percent per year, what is the present value of the lease?

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