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A retail tenant occupies 5 , 5 0 0 square feet in a 1 0 0 , 0 0 0 square foot shopping center. The

A retail tenant occupies 5,500 square feet in a 100,000 square foot shopping center. The lease calls for the tenant to pay a pro-rata share of common area maintenance expenses. In addition, an administrative fee of 10% should be paid (i.e., based on the common area maintenance expenses that the tenant should pay). Common area maintenance costs are estimated at $400,000 annually. How much does the tenant pay in common area maintenance and administrative fee on an annual basis?
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$12,100
$6,050
$24,200
$400,000

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