App4Rent Inc. manages and leases apartment units in the Bay area. Your company is considering making an acquisition offer for App4Rent and you have been instructed to forecast its sales. The basic sales model for an apartment is as follows:

Sales = #Units (1 - VRate) $ARPU

Where

#Units = number of units

VRate = vacancy rate

$ARPU = average revenue per unit

Over the coming year, App4Rent expects to acquire a new building (with 300 units) in San Mateo. The table below shows last years results and your forecast for next years values. What is the percentage change in sales from last year to next year? Round your answer to one decimal place.

App4Rent Inc. Selected Operating Data Last Year Next Year New Apartment Units 300 300 Total Apartment Units 5,010 Vacancy Rate 3.5% 3.00% Avg. Rent per Unit (per month) $960.46 $1,009.71 App4Rent Inc. Selected Operating Data Last Year Next Year New Apartment Units 300 300 Total Apartment Units 5,010 Vacancy Rate 3.5% 3.00% Avg. Rent per Unit (per month) $960.46 $1,009.71