Suppose a lease has a CPI-Adjustment each year If last years

Question

Suppose a lease has a 75% CPI-Adjustment each year. If last year's rent was $20/SF and the CPI has increased from 155 to 161, what is the new rent this year?
a) $20.50
b) $20.58
c) $20.77
d) $21.00
e) $21.20

Answer

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