Question: Please explain all the steps for Problem 2 Please and thankyou!! Percentage ( Overage ) rents A retail tenant has agreed to pay a base

Please explain all the steps for Problem 2 Please and thankyou!! Percentage (Overage) rents
A retail tenant has agreed to pay a base rent, plus 6% of the sales above $300,000. Sales are expected
to grow at 4% per year. Current sales are $350,000.
What are the expected sales in year 3?
What is the expected overage rent to be earned in year 3?
Please explain all the steps for Problem 2 Please and thankyou!!

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