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You own a building that you would like to sell for $250,000, but times are tough right now. Youve found someone who is willing to

  1. You own a building that you would like to sell for $250,000, but times are tough right now. Youve found someone who is willing to negotiate a lease on the building (that is, they want to rent it, not buy it). You tell them you will do a 25-year lease if they will base the rent payments on $250,000 plus a 10% annual return. They accept. What is the amount of the annual rent you have agreed to accept in this lease?

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