Your firm enjoys the benefit of a $($beginning of$)$ month lease payment of $$3,000,$ which is

$$1,500$ below the current market rent for your space. You have five years $(60$ months$)$

remaining on your lease. Your cost of capital $($discount rate$)$ is $15$ percent. Your landlord

has approached you and asked what she would have to pay you in cash today to make you

willing to rewrite your lease so that you are paying market rent for the remaining five

years.

What is the minimum payment you would require from the landlord as compensation for

giving up the advantageous rental rate? Round your answer to the nearest dollar.

$$69,390$

$$63,052$

$$60,339$

$$63,840$

None of the selections is correct