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Rental costs for office space have been going up at 7.2% per year compounded annually for the past 5 years. If office space rent is
Rental costs for office space have been going up at 7.2% per year compounded annually for the past 5 years. If office space rent is now $22 per square foot per month, what were the rental rates 5 years ago? The rates 5 years ago were about $ per square foot. (Round to two decimal places as needed.)
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