A tenant has a lease which includes a percentage rent clause that provides for percentage rent of 3.5% of gross  sales with a break-point of $3,000,000. The tenant has annual gross sales of $3,300,000. How much is the percentage rent which the tenant is required to pay?

Answer rating: 100% (QA)

Solution Step 1 Calculate the rent before the breakpoint Percentage re... View the full answer