1. You signed a rental lease for an office space in Clayton for four years with an annual rent of $1 million, paid at the beginningof each year of the lease. Just before you pay your first rent, the property owner wants to use the space for another purpose and proposes to buy back the lease from you. The rent for similar space is now $1.25 million per year. Draw a timeline and calculate the minimum compensation that you would ask from the property owner. Assume the interest rate to be 6%.