A Building Owner Charges Net Rent of $20 in the First

question 38

Multiple Choice

A building owner charges net rent of $20 in the first year,$21 in the second year,and $22 in the third year,but is providing six months of free rent in the first year as a concession.Using a 10 percent discount rate,what is the effective rent over the three years?

• A)$17.28
• B)$18.94
• C)$20.94
• D)$42.98

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