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Provide the steps to calculate the question below on your HP 12C calculator? A 5,000 square foot space is to be leased at an annual
Provide the steps to calculate the question below on your HP 12C calculator?
A 5,000 square foot space is to be leased at an annual contract rent of $21 per square foot for five years. Due to difficulties in finding a tenant, the owner has offered a $15,000 cash incentive to secure the lease. The owner's required rate of return is 12%. What is the effective rent per square foot per year?
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