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4. Retail Lease (Rental Rate Structure): A national chain clothing store sales history in regional malls indicates that its estimated gross sales will be $1,950,000
4. Retail Lease (Rental Rate Structure): A national chain clothing store sales history in regional malls indicates that its estimated gross sales will be $1,950,000 per year. The market dictates that the retailer will pay the landlord/mall owner 5% of annual gross sales as annual base rent and percentage rent of 7% above the monthly breakpoint based on estimates of annual gross sales: A) What is the annual base rent? B) What is the monthly base rent? C) Calculate the monthly breakpoint D) If the clothing store generates $650,000 of gross sales during the month of December, how much percentage rent is owed to the landlord? And what is the total rent due for the month
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