medium · National Real Estate Exam property-ownership
A sporting goods store occupies 2,000 square feet with a lease rate of 18 per square foot per year. The lease also requires 5% of gross sales over $400,000 per year.
If the store's annual sales are $520,000, what is the total annual rent?
- $36,000
- $62,000
- $41,000
- $42,000
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