A retail store you own requires the tenant to pay percentage rent of 5% over their break
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Question:
A retail store you own requires the tenant to pay percentage rent of 5% over their break point of $1 million per year. Their sales have been $1.35 million per year and you have been investing the percentage rent in a 6% savings account each year. How much will you have after 7 years of investments?
Sales | $1,350,000 |
Break Point | $1,000,000 |
Overage | $350,000 |
Percentage | 5% |
Additional Rent | $17,500 |
Related Book For
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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