-8/5 is the correct answer
First year- 62,000
Second year- 7% increased in rent= 66,340
Third year- 7% increased in rent (66,340)= 70,984
Fourth year- 7% increased in rent (70,984)= 75,953
Fifth year- 7% increased in rent (75,953)= 81,270.
Total 5 years lease- 356,547.