You are a landlord and want to figure out the value of a potential lease. The lease is for 15,000 square feet with a term of 5 years at a rate of $18 per square foot per year. All expenses are paid by the tenant. In order to sign this lease you will need to pay $75,000 upfront in tenant improvements and another $50,000 in leasing commissions. What is the value of the lease per SQ FT per year assuming a 6% discount rate?

Group of answer choices

$14.50

$15.02

$16.13

$16.31