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16. Given the following information, calculate the effective monthly rent payment: lease term: 10 years; concession:...

16. Given the following information, calculate the effective monthly rent payment: lease term: 10 years; concession: first year free rent to be spread over the term of the lease; rental space: 5000 square feet; rental rate: $28.59 per square foot per year; landlord's discount rate: 10%; rents payments received at the beginning of each month.
A) $4,676
B) $5,901
C) $7,081
D) $10,122

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