Retrieve the Excel Sheet. Review the base-case calculations of the own-versus-rent decision. Note that with the base-case assumptions and an expected 1-year holding period, renting is preferred to owning by $21,898 (cell B63); that is, the net present value of the cost of renting is $21,898 less than the net present value of the cost of owning. With a 5-year expected holding/analysis period, owning is preferred to renting by $2,303.

1. What is the assumed monthly rental rate in year 1? (5 pts.)

2. What is the assume purchase price of the home? (5 pts.)

One COM.CO LOV DETTE 37 MES RE M AL! One COM.CO LOV DETTE 37 MES RE M AL! One COM.CO LOV DETTE 37 MES RE M AL! One COM.CO LOV DETTE 37 MES RE M AL