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QUESTION

Suppose a 20-year lease with annual rental payments (due at the end of each year).

Suppose a 20-year lease with annual rental payments (due at the end of each year). If the first year rent is $30 per square foot and the contract calls for the rent to increase by 5% each year, if the opportunity cost of capital (discount rate) is 11%, what is the present value of this lease?

can you show the working for this? thanks

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