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A retail tenant signs a variable scale percentage lease that sets the monthly rental rate at 5% of gross sales up to $20,000 per month
A retail tenant signs a variable scale percentage lease that sets the monthly rental rate at 5% of gross sales up to $20,000 per month and 2% of gross sales from 20,000 to 50,000 per month. All sales above $50,000 per month have no allotment towards rent. How much does the tenant pay for the first quarter rent if January sales were $28,000, February sales were $15,000 and March sales were $65,000?
A) 2,910.00
B) 3,510.00
C) 2,760.00
D) 3,810.00
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