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Assume a retail tenant is paying a base rent of $120,000 per year. In addition, the tenant must pay 10 percent of gross store sales in excess of $143,000 per month as percentage rent. If the store produces $170,000 in gross sales in a month, what is the percentage rent in that month? What is the total rent due for the month?

$12,000.

$12,450.

$10,000.

$12,700.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92172633

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