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The property owner receives $10,000 per month in ground rent, and the prevailing direct capitalization rate is 3.0% for the leased fee interest in land.

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The property owner receives $10,000 per month in ground rent, and the prevailing direct capitalization rate is 3.0% for the leased fee interest in land. All else equal, what is the implied value of the leased fee interest in the land? A. $400,000 B. $3,667,000 C. $333,000 D. $4,000,000

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