Terry Johns pays $600 per month plus a percentage of gross annual sales in excess of $180,000 for a small retail space in a neighborhood shopping center. If gross sales were $264,000 in 2002 and the total rent paid was $13,080, what is the percentage rate required by Terry's lease?

Answer rating: 100% (QA)

Terrys total annual rent is 13080 which includes 600 per month for 12 months as flat fee rent and th... View the full answer